FundBank rebrands as IRACE Digital to bridge traditional finance and crypto

FundBank Group has officially rebranded as IRACE Digital, completing a transformation that repositions the institutional bank as a hybrid operator spanning traditional finance and crypto markets. The move is designed to serve asset managers, hedge funds, and institutional clients who increasingly need banking infrastructure that works across both fiat and blockchain-based systems.

What IRACE Digital is actually building

The company secured a license from the Office of the Comptroller of the Currency in the US in 2024, giving it a federally recognized banking charter. That same year, it launched US operations with a specific focus on digital asset services.

In February 2026, IRACE Digital received authorization for an Irish branch, expanding its European footprint. A month later, in March 2026, the firm announced an investment of approximately €10 million in Trrue, an Irish blockchain company, to strengthen its digital asset capabilities.

The company has also forged technology partnerships that signal serious infrastructure ambitions. Temenos, a well-known provider of core banking SaaS solutions, is serving as a key technology partner. A collaboration with Komainu for fiat on/off-ramping was announced in March 2026, addressing one of the most persistent pain points for institutional crypto participants: moving money between traditional bank accounts and digital asset platforms without friction.

IRACE Digital’s service menu now includes custody, treasury management, on/off-ramping solutions, and fiduciary services for tokenized funds and hybrid investment vehicles.

Why institutions need this kind of bridge

IRACE Digital is betting that consolidating these functions under one regulated banking entity solves a real market need. The firm hosted events discussing crypto and stablecoins as early as November 2025, positioning itself as a thought leader before the formal rebrand rollout.

The competitive landscape is getting crowded

IRACE Digital is not operating in a vacuum. Banks like Standard Chartered have been expanding crypto custody and trading services. Anchorage Digital holds a federal bank charter in the US and serves institutional clients with digital asset banking. Seba Bank and Sygnum in Switzerland have been operating as crypto-native banks for years. Even traditional custodians like BNY Mellon have dipped into digital asset custody.

What distinguishes IRACE Digital’s approach is the breadth of its ambition across both fiat and crypto, combined with its multi-jurisdictional licensing strategy. Holding an OCC license in the US while simultaneously building out European operations through Ireland gives it a regulatory footprint that many crypto-native competitors lack. The Komainu partnership for on/off-ramping and the Temenos integration for core banking suggest a company that wants to compete on infrastructure quality rather than simply riding the crypto narrative.

The €10 million investment in Trrue also deserves attention. Rather than building every blockchain capability in-house, IRACE Digital is acquiring specialized expertise.

The risk, as always, is regulatory. An OCC license provides legitimacy, but it also subjects IRACE Digital to the full weight of US banking regulation, including capital requirements, anti-money laundering obligations, and supervisory examinations. Operating across the US and EU simultaneously means navigating two distinct and sometimes conflicting regulatory regimes, particularly as Europe implements its Markets in Crypto-Assets framework.