Key Highlights
- Fasset secured $68 million in funding spearheaded by Japan’s SBI Group, achieving a $1 billion valuation
- The platform handles more than $40 billion in yearly transaction volume spanning 125 nations
- The stablecoin neobank reports six-fold revenue expansion year-over-year with 12 months of continuous profitability
- Operations leverage OWN Network, a custom Ethereum Layer 2 solution developed on Arbitrum technology
- Strategic alliance with SBI Remit opens doors to approximately 470,000 distribution points across roughly 200 nations
A Los Angeles-headquartered stablecoin banking solution, Fasset, has achieved unicorn status with a $1 billion valuation following the completion of a $68 million investment round spearheaded by Japan’s financial powerhouse SBI Group.
This latest capital injection follows a $51 million fundraise completed in May, pushing Fasset’s aggregate 2026 funding to $119 million.
Expansion Fueled by Stablecoin Transaction Infrastructure
The platform enables both individual users and enterprises to manage, transfer, utilize, and grow their holdings across multiple currencies and asset classes. While users may not always directly interact with stablecoins, these digital assets form the foundational settlement infrastructure operating beneath the surface.
According to CEO Mohammad Raafi Hossain, the company’s revenue has experienced approximately six-fold growth compared to the previous year. Additionally, Fasset has maintained profitability continuously for a full year, although specific financial metrics remain undisclosed.
Primary revenue generation stems from both institutional and retail client segments, encompassing stablecoin payment processing and settlement operations. Emerging revenue channels include card products and banking account services.
With operations extending across 125 nations, the platform facilitates over $40 billion in annualized transaction throughput.
The company operates on OWN Network, a proprietary AI-enhanced Ethereum Layer 2 framework constructed atop Arbitrum technology. This infrastructure connects financial institutions, telecommunications providers, payment processors, and liquidity sources across more than 100 banking pathways.
Users encounter stablecoins at various touchpoints throughout the platform experience, transitioning between traditional banking interfaces, payment solutions, or alternative assets while stablecoins facilitate backend settlement processes.
Strategic SBI Alliance Broadens Global Footprint
The investment from SBI Group strengthens Fasset’s connection to one of Japan’s most prominent financial ecosystems. SBI maintains an extensive digital asset investment portfolio, including stakes in Ripple, Circle, and decentralized finance platform Morpho. The conglomerate also maintains ownership of cryptocurrency liquidity specialist B2C2.
Fasset currently collaborates with SBI Remit, whose distribution infrastructure encompasses approximately 470,000 physical locations and direct bank account transfer capabilities reaching around 200 countries worldwide.
Both organizations intend to establish additional payment channels throughout Japan, broader Asia, and developing economies, though concrete details regarding new offerings or corridors have not been announced.
The company maintains regulatory authorization in the United Arab Emirates, European Union territories, and select Asian jurisdictions. Fasset’s Shariah-compliance certification provides competitive advantages within Middle Eastern and Southeast Asian market segments.
Through a collaboration with Tether, the platform offers a gold-collateralized Visa card product. Cardholders can make purchases using stablecoins such as USDT while accumulating rewards denominated in Tether’s tokenized gold offering, XAUt.
The fresh funding will support OWN Network expansion initiatives, development of lending and trade finance capabilities, and enhancement of Fasset’s artificial intelligence systems that optimize transaction routing according to cost efficiency, processing speed, and network availability.
While Fasset and SBI have not disclosed particular new corridors or collaborative products, both parties indicate their objective centers on integrating Fasset’s technological infrastructure with SBI’s regulatory capabilities and extensive financial holdings.
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