Aaron Fu

backing tech for a better 🌍 | investing early in fintech, AI and crypto @DCGco | ex $SCBFY | views expressed are my own

[Aaron Fu @aaronqfu]

Stablecoin Day at @MexicoTechWeek 🇲🇽 Oct 29, CDMX.

Founders, builders, investors: come talk cross-border, cards, agentic payments + compliance. Office hours all day, pan de muerto happy hour to close 🚀

@DCGco’s so proud to team up w @reapglobal @tempo @FireblocksHQ @jeeves_inc

https://t.co/XUlm4Bk09E

[Aaron Fu @aaronqfu]

Proud to have backed @sinclair_toffa & Chris since the early days, alongside @galaxyhq , @firstminutecap . 🚀

Story via Fortune: https://t.co/VYwAePNLBD

[Aaron Fu @aaronqfu]

@mural_pay just raised $28M total - incl a $15M Series A led by @tether w @NorthIslandVC!

@DCGco has backed this team since the 2022 seed, when stablecoin rails for cross-border payments sounded early and unobvious. Now Mural has hit -$2.1B processed, 128 countries, ‘26 volume already ~6x all of ‘25.

[Aaron Fu @aaronqfu]

Proud for @DCGco to have backed @flock_io early - Qwen just spotlighted their open-source THIS/THAT model: 87.8% on complex decision tasks (up from 40.6% in v1.0), beating GPT-5.6 and Claude Opus 5, running locally in ~31ms. Built on Qwen3.5, trained on @alibaba_cloud . 🚀

[Alibaba Cloud @alibaba_cloud]

Small models, huge impact. Excited to power @flock_io's high-performance decision model with Qwen & our cloud infrastructure.

[Chuk @chuk_xyz]

What if you could buy stocks directly with your money market fund?

@FranklnTempletn recently asked the SEC whether additional exemptions are needed to trade tokenized money fund shares directly against tokenized stocks, with liquidity providers charging a fee.

The appeal: keep earning money market yield until you exchange your fund shares for the stock. Skip the conversion into cash or stablecoins first. (GENIUS prohibits payment stablecoin issuers from paying yield simply for holding their tokens)

Neat. It's a step towards potentially more efficient trading.

Imagine the ideal scenario: keep investable balances in yielding assets, get buying power against them, execute, then fund settlement when it is due. If you can net obligations, even better.

But I wonder whether this might fragment liquidity. A non-yielding stablecoin sitting in a stock pool has an opportunity cost. Its widespread acceptance as a settlement asset can also concentrate liquidity and let investors choose where their proceeds go next.

Splitting stock liquidity across competing money fund pools could sacrifice that advantage. On the other hand, a first-mover advantage might concentrate sufficient liquidity in one fund, leading to a winner-take-all scenario. That outcome might be worth a shot.

Either way, I'm glad we can have these conversations with a pro-innovation SEC.

Its a good example of the possibilities opened up by a more programmable financial system.

[Aaron Fu @aaronqfu]

Just start - that already puts you ahead of most.

Sure you’ll still need courage, determination, pace, focus, a tonne of luck to win, but all that does not matter if you don’t start.

[Han Xiao @hxiao]

Yes, moat is gone, but also this:

[Aaron Fu @aaronqfu]

Now w @solana for real-time settlement! 🚀

https://t.co/wpqK55JNQ6

[Aaron Fu @aaronqfu]

Brilliant strategy sprint this week in @Xweave_io's 🇸🇬 office - one of the sharpest teams tackling an overdue corner of stablecoin adoption: institutional treasury settlement. Live in SG, Indonesia, PH and more!

[Aaron Fu @aaronqfu]

@0x7SUN Portable, on demand, transparent liquidity - another revolution by @0x7SUN and @flock_io ⭐️ 😉

[Aaron Fu @aaronqfu]

Secret’s out! @DCGco’s one and only @gustavo_xAM is hitting up @token2049 Singapore 🇸🇬 for 1 week only. Hit him up for pow wows on privacy, perps - or to jam about the latest developments with zcash:native or TAO!

[gustavo am @gustavo_xAM]

Excited for the great conversations to come at @token2049 in Singapore next week.

Always great to catch up with our @DCGco backed founders and investors, and meet with new talent building in web3 and AI.

We invest across the full stack and are always eager to learn, exchange views on the market and anything in between.

Hit us up. DM’s open!

cc: @aaronqfu @anna_brth @sterley_bird @notjk

[Aaron Fu @aaronqfu]

+1

And yes, there’s a difference between using AI to optimize a deck you’ve gotten 80% of the way there and just asking it to build the whole thing from scratch.

[sarah guo @saranormous]

please stop sending me your ai-generated decks. they smell like total lack of thought

[Aaron Fu @aaronqfu]

GTXN's licensed rails now power @LunoGlobal 's cross-border payments for 15M+ customers across Africa & SEA - one provider, one settlement flow, instead of the old correspondent-bank chain.

Congrats again @danbabbles!

[Aaron Fu @aaronqfu]

Personal one: @danbabbles the founder of my first venture investment at @DCGco and one of the best humans in payments just had his company GTXN acquired by our own @LunoGlobal. And yes - He's staying on as CEO!

2nd payments exit in 6 yrs (Beyonic → @Onafriq was the first). Some people just keep building.

[Aaron Fu @aaronqfu]

A week ago, as São Paulo Tech Week 🇧🇷 wrapped, @DCGco co-hosted one of the best nights we've had in a while - alongside @kyanekassiri who relocated from Tunisia to Brazil just 48 hours before walking into the room. That's commitment to a market!

The room: 14 VCs, 9 founders and operators. Grateful to everyone who showed up with that electric energy ⚡️

[Aaron Fu @aaronqfu]

@richardzphotoz @cosign On the waitlist! 🤞🏼

[Aaron Fu @aaronqfu]

I love that we’re living in the future, but Instinct just got me sent to CBP secondary screening. 🫠

Was jazzed to let Instinct handle my flight check-in. I am guessing it decided to take one of my first names and aggressively demote it to a middle name when submitting my APIS data. The backend system didn’t match my passport, visa and border control had some very specific questions for me upon landing.

It all got cleared up, but maybe this is kinda a PSA to check your AI's background data entry before crossing international borders. ✈️

[Aaron Fu @aaronqfu]

This was a lot of fun! Huge shout out to @QuonaCapital + @RPPFintech for bringing together an epic reunion of African Fintech OGs in London! Even got to spot a @oviosu in the wild ⭐️ and go deep with old friends like @Parbhoo_Amee

Reminder of how far we’ve come and the need to work together to drive the outcomes we know African fintech can get to.

[DCG @DCGco]

Scaling fintech across borders takes more than a great idea; it takes the right strategy and partners

Last week, @aaronqfu joined @RossStrike, @AmandineLobelle, and @Verto_co on stage at Africa Fintech Fest to talk what it really takes to build and scale across markets

Moderated by @mbrandengel and hosted by @RPPFintech & @QuonaCapital

[Aaron Fu @aaronqfu]

Had the best tea catch-up with Hussein Ahmed this week 🧉 Built neobank Oxygen to 600K+ users, and now he's doing it again with @limitedgrouphq - stablecoin-powered banking that gives businesses (and individuals) self-custody accounts, cards, and cross-border payments, zero crypto knowledge needed!

@DCGco got to back him early - he's now live in 176 countries, and he's just getting warmed up.

[Yueqi Yang @Yueqi_Yang]

Erebor Bank attracted crypto clients this year with a pitch -- the bank would convert their Circle and Tether stablecoins to cash for free.

Sophisticated crypto trading firms quickly figured out a way to make an easy profit out of the offer -- at a cost to Erebor.

Story with @MichaelRoddan
https://t.co/fj8eJsaNIS 1/

[Aaron Fu @aaronqfu]

City of dreams 🗽