Ibis, an onchain credit platform, has launched out of stealth with a $250 million structured credit facility from FalconX, which also led its pre-seed round, with Anchorage, Innovating Capital, and angels participating. Anchorage Digital serves as custody, banking, and design partner. The platform targets digital asset trading firms first, offering underwriting based on balance sheets and risk profiles rather than overcollateralized lending, before expanding to AI infrastructure, robotics, and other frontier sectors. The company cites a digital-asset fund finance market exceeding $10 billion and fragmented credit supply after 2022's lender retreat.

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