A new Fasset funding round has pushed the UAE-based stablecoin neobank to a $1 billion valuation, the company said Monday, August 24, 2026. SBI Group led the $68 million Series C, which follows Fasset’s $51 million Series B in May and brings its total 2026 funding to $119 million.
The company plans to use the capital to expand Own Network, its regulated infrastructure for cross-border stablecoin settlement, and to deepen its use of AI in routing payments.
SBI Group Deepens Its Stake in Fasset
Fasset said in its own announcement that the Series C marks its entry into the global fintech unicorn category, coming three months after the Series B round that brought Speedinvest onto its cap table.
SBI Holdings Chairman and CEO Yoshitaka Kitao said the investment reflects SBI’s view of Fasset as a financial bridge connecting Japan with high-growth markets, tying the deal to SBI’s broader “Digital Economic Zone” strategy for stablecoin-based settlement.
The round deepens ties that already run through SBI’s wider crypto portfolio, which includes stakes in Ripple, Circle, and Morpho, along with ownership of liquidity provider B2C2. SBI’s crypto bets have shown up elsewhere too, including our coverage of Circle’s Arc token presale, which drew in $222 million from a similar mix of institutional backers.
Fasset will also lean on SBI Remit’s network, which supports remittances to roughly 200 countries, to widen its own payment corridors.
TechNode Global reported that Fasset now processes more than $40 billion in annualized transaction volume, serving over 3 million wallets and more than 1,000 enterprises across 125 countries, with regulatory approvals spanning the UAE, Indonesia, Malaysia, the European Union, Turkey, and Pakistan.
What Fasset Does With the Money Next
Fasset co-founder and CEO Mohammad Raafi Hossain said on August 24, 2026, that the next phase is “any-to-any banking,” where the company invests further into agentic AI payments and expands licensing in emerging markets rather than layering another app on top of existing rails.
Watch for Fasset to lean on its Shariah-compliant model, which has already gained traction across the Gulf and South Asia, as it pushes into new banking corridors funded by this round.
What this means for you: A $1 billion valuation signals that traditional finance, not just crypto-native funds, is now backing stablecoin settlement infrastructure at scale. If you use cross-border payment apps or stablecoin-based accounts, expect more competition and faster settlement options as firms like Fasset expand into new corridors.
It also means regulators in more countries are likely to see formal licensing requests from stablecoin neobanks over the next year.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
