Stablecoin neobanking platform Fasset has achieved unicorn status, raising $68 million in a Series C round led by Japan’s SBI Group at a $1 billion valuation. The Los Angeles-based startup now processes over $40 billion in annualized transaction volume, serving more than 3 million wallets across 125 countries.
The round, announced Monday, follows Fasset’s $51 million Series B in May 2026, bringing the company’s total 2026 fundraising to $119 million. Early investor Speedinvest and other strategic participants also contributed to the latest round. Fasset has raised over $150 million in total since its 2019 founding.
Capital to Scale AI-Powered Infrastructure
Fasset said the new funding will support the expansion of Own Network, its regulated financial infrastructure connecting banks, telcos, payment providers, and liquidity providers across international markets. The company also plans to invest in agentic AI-enabled systems for corridor banking, stablecoin settlement, and tokenized asset infrastructure.
The platform combines regulated local infrastructure with stablecoin settlement technology and access to global markets through a single financial account. It holds regulatory licenses across the GCC, Asia, Europe, and other international markets, and serves over 1,000 enterprise clients.
Stablecoin Infrastructure Boom
Fasset’s rapid ascent reflects growing institutional demand for stablecoin-powered cross-border payments. The company positions itself not as an interface on the existing financial system, but as infrastructure intended to replace it, CEO Mohammad Raifi Hossain said.
Fasset’s vision of a world in which money moves across borders as easily as information does points in the same direction as the on-chain economic zone that the SBI Group seeks to realize through digital finance.
SBI Group, one of Japan’s largest financial conglomerates, operates across financial services, asset management, and crypto-assets. Its backing signals growing Japanese institutional interest in stablecoin infrastructure beyond domestic markets. The partnership gives Fasset access to SBI’s extensive Asian financial network.
The funding milestone arrives amid a broader stablecoin infrastructure boom. Earlier this month, the US FASB proposed guidance allowing fiat-backed stablecoins to qualify as cash equivalents for corporate accounting, a move expected to accelerate institutional adoption of stablecoin payment rails.
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