Fasset raises $68 million in SBI-led round, reaching $1 billion valuation

Fasset, a stablecoin-based digital bank, has raised $68 million in a Series C round led by Japan’s SBI Group at a $1 billion valuation.

This funding round has pushed the payments firm into unicorn territory less than three months after its last raise. 

Fasset becomes a unicorn 

Fasset’s total fundraising for 2026 has hit $119 million, following its most recent series C funding round led by Japan’s SBI Group. The round added $68 million to the $51 million raised in a Series B round in May. Speedinvest, an early backer, also joined the round.

Fasset said the fresh capital will go toward expanding Own Network, which it describes as a regulated Ethereum layer-2 blockchain built on Arbitrum technology that connects banks, telecom companies, payment firms, and liquidity providers across more than 100 banking corridors, and its AI systems that route transactions based on cost, speed, and availability. 

In 2023, Fasset became one of the first companies licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). It has also secured approvals in Indonesia, Pakistan, Türkiye, and Malaysia. The company has built Shariah-compliant products tied to stablecoins, gold, equities, and sukuk in several of these countries. 

… Continue reading the full article at the original source below.