The Stablecoin Bank Nobody Saw Coming Just Hit $1 Billion Valuation With SBI’s Backing

TLDR

• Fasset raised $68 million led by Japan’s SBI Group, hitting a $1 billion valuation
• The stablecoin neobank processes over $40 billion in annualized transaction volume across 125 countries
• Revenue has grown six-fold year over year and the company has been profitable for 12 consecutive months
• Fasset runs on OWN Network, a proprietary Ethereum Layer 2 built on Arbitrum
• The firm partnered with SBI Remit, gaining access to roughly 470,000 payout locations across about 200 countries

Fasset, a Los Angeles-based stablecoin banking platform, has reached a $1 billion valuation after closing a $68 million funding round led by Japan’s SBI Group.

Fasset has entered the global fintech unicorn category.

Less than four months after our Series B, we have raised a further $68 million in Series C funding, led by SBI Group. This brings Fasset’s total funding in 2026 to $119 million.

The investment will expand Own Network and… pic.twitter.com/8c0IXNHOhi

- Fasset (@fasset_official) August 24, 2026

The raise follows a $51 million round in May, bringing Fasset’s total funding in 2026 to $119 million.

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