Fasset raises $68M, hits $1B valuation, expands stablecoin network

Fasset raised $68M led by SBI Group, reaching a $1B valuation. The neobank processes $40B annually in 125 countries, with revenue up sixfold and 12 months of profitability.

Fasset, a neobank focused on stablecoins, has raised $68 million in a funding round led by Japan’s SBI Group, boosting its valuation to $1 billion. This follows a $51 million round in May, bringing total funding for 2026 to $119 million. Operating in 125 countries, Fasset processes over $40 billion in annualized transaction volume. The company has reported a sixfold year-over-year revenue increase and has maintained profitability for 12 consecutive months. Fasset has developed its own Layer 2 network, OWN, on Arbitrum to facilitate cross-border stablecoin payments for institutions and individuals. The company has also partnered with SBI Remit, gaining access to a remittance network spanning 200 countries. Early investor Speedinvest and other strategic backers joined the funding rounds. Fasset aims to leverage SBI’s financial network to expand payment corridors across Japan, Asia, and emerging markets.