Fasset, an AI-powered stablecoin neobanking platform, has successfully closed a $68 million Series C funding round, achieving a valuation of $1 billion. The financing was led by Japanese financial giant SBI Group and follows a $51 million Series B raise earlier this year. This new capital injection elevates Fasset to unicorn status and will fuel its mission to reshape global financial infrastructure.
Strategic Partnership with SBI Group
The investment from SBI Group signifies a strong conviction in Fasset's potential to bridge financial systems between Japan and high-growth emerging markets. Yoshitaka Kitao, CEO of SBI Holdings, highlighted Fasset's robust business foundation and its alignment with SBI's vision for an on-chain digital economic zone. This partnership aims to co-develop next-generation financial systems extending from the Asia-Pacific to the Middle East and Africa.
This funding round deepens an existing relationship, positioning Fasset within SBI Group's extensive ecosystem of digital finance investments, which includes prominent names like Ripple and Circle. The collaboration will also leverage a previously announced partnership with SBI Remit. This connection provides Fasset access to a vast network supporting bank remittances to nearly 200 countries, accelerating its global service capabilities.
A Vision for Accessible Banking
Fasset is driven by a vision to eliminate the financial barriers imposed by geography, a problem CEO Mohammad Raafi Hossain describes as a broken banking system. The company's goal is to enable "any-to-any banking," where value can move seamlessly between any person, asset, or payment rail globally. This approach involves rebuilding financial infrastructure from the ground up rather than simply adding a new interface to existing systems.
The new capital will be instrumental in expanding Own Network, Fasset's regulated financial network that connects disparate financial entities. A significant portion of the investment is also dedicated to enhancing its agentic AI systems. These systems are crucial for optimizing corridor banking, stablecoin settlement, and the company's tokenized asset infrastructure for maximum efficiency.
Infrastructure for a New Financial System
At the core of Fasset's operations is its Own Network, a sophisticated infrastructure linking local banking systems, payment providers, and financial institutions. This network spans over 100 banking corridors, creating a unified system for international transactions. It is designed to provide customers with comprehensive financial access, allowing them to manage and move assets across various currencies and markets.
Stablecoins serve as a key settlement mechanism within the network, enabling value to move between markets with greater speed and lower cost. Fasset employs artificial intelligence to intelligently route transactions across different payment rails and liquidity providers. This technology considers factors like cost, speed, and availability to ensure optimal performance without requiring users to manage the underlying complexity.
Demonstrated Growth and Market Impact
Fasset has already achieved significant scale, now processing over $40 billion in annualized transaction volume. The platform serves a rapidly growing user base of more than three million wallets and over 1,000 enterprises across 125 countries. This impressive traction is supported by a strong regulatory footprint in key markets across the GCC, Asia, and Europe.
The company's rapid ascent is further evidenced by its fundraising success, having raised a total of $119 million in 2026 alone. Stefan Klestil of Speedinvest, an existing investor, praised the team for building regulated infrastructure that provides crucial access to stablecoins and global assets. This momentum solidifies Fasset's position as one of the fastest-growing platforms in the neobanking sector.
In conclusion, Fasset's successful Series C round and new unicorn status mark a pivotal moment in its journey to redefine global finance. With the strategic backing of SBI Group and substantial new capital, the company is well-positioned to expand its AI-driven network. Fasset continues to advance its mission of creating a more inclusive financial system where ownership and opportunity are universally accessible.