Fasset raises $68 million Series C at $1 billion valuation. The AI-powered stablecoin neobanking platform secured the round from SBI Group as it expands its regulated financial network across emerging markets. Prefer on Google Discover more financial group Fasset, an AI-powered stablecoin neobanking platform, has raised $68 million in a Series C funding round led by Japanese financial services group SBI Group at a valuation of $1 billion. The financing follows a $51 million Series B round earlier this year and brings the company's total funding raised in 2026 to $119 million. The new investment gives Fasset unicorn status and provides capital to expand its financial infrastructure, stablecoin capabilities and agentic AI systems across international markets. SBI Group deepens strategic partnership. SBI Group's investment strengthens an existing relationship between the Japanese financial group and Fasset, with the companies targeting closer integration between Japan and emerging markets across Asia-Pacific, the Middle East and Africa. Yoshitaka Kitao, CEO of SBI Holdings, said Fasset has established a strong business foundation that aligns with SBI's vision for an on-chain digital economic zone. The partnership is intended to support the development of financial infrastructure connecting different markets and payment systems. Fasset will also build on a previously announced relationship with SBI Remit, which provides access to a network supporting bank remittances to nearly 200 countries. SBI Group's broader digital finance ecosystem includes investments in companies such as Ripple and Circle, placing Fasset alongside other businesses focused on blockchain-based financial infrastructure. Fasset targets cross-border banking barriers. Fasset's strategy is centered on reducing the geographic restrictions associated with traditional financial systems. CEO Mohammad Raafi Hossain has described the existing banking structure as fragmented and said the company's objective is to create what it calls "any-to-any banking." The model is designed to allow value to move between people, assets and payment rails across different markets without requiring users to navigate the underlying financial infrastructure themselves. Discover more Investment The latest funding will support the expansion of Own Network, Fasset's regulated financial network connecting banks, payment providers and other financial institutions. Stablecoins and AI power transaction infrastructure. Own Network currently connects more than 100 banking corridors and is designed to provide customers with access to financial services across currencies and markets. Stablecoins form an important part of the network's settlement infrastructure, allowing value to move between markets while reducing reliance on traditional cross-border payment processes. Fasset also uses AI to route transactions across payment rails and liquidity providers. The system evaluates factors including cost, transaction speed and liquidity availability to determine suitable routes. A portion of the new capital will be directed toward expanding Fasset's agentic AI capabilities, including applications for corridor banking, stablecoin settlement and tokenized asset infrastructure. Platform processes more than $40 billion. Fasset says it is now processing more than $40 billion in annualized transaction volume and serves more than three million wallets and over 1,000 enterprises across 125 countries. The company also has a regulatory presence across markets in the Gulf Cooperation Council, Asia and Europe, supporting its strategy of connecting local financial systems with international payment networks. The latest financing follows Fasset's $51 million Series B earlier in 2026. Combined with the new Series C, the company has raised $119 million during the year. Stefan Klestil of existing investor Speedinvest said Fasset's focus on regulated infrastructure provides users with access to stablecoins and global assets. The Series C gives Fasset additional capital to expand Own Network, develop its AI-powered financial infrastructure and strengthen partnerships as it seeks to connect more financial markets through stablecoins and digital assets.

Stablecoin platform Fasset hits $1bn valuation. US-based start-up Fasset, which is described as an AI-powered stablecoin neobanking platform, has reached unicorn status after its latest fund raising effort. Series C funding raised $68m, led by Tokyo-based SBI Group, and followed a series B round of $51m earlier this year. The capital will be used to expand Fasset's regulated network, Own Network, which is designed to enable cross-border settlement for member banks and liquidity providers. Fasset will also invest in its agentic-AI enabled systems to further develop tokenisation services. According to Fasset, it now serves more than 3 million wallets and more than 1,000 enterprises and processes more than $40bn in annual transaction volume. "We built Fasset to address a simple problem: access to financial opportunity still depends too heavily on where someone lives and the financial system available to them," said Mohammad Raafi Hossain, Fasset's co-Founder and CEO. "The banking system is broken. It's not enough to build another financial front on current rail... The next phase is about any-to-any banking. Any person to any person. Any asset to any asset. Any rail to any rail, anywhere." By on 2026-08-24 07:00:00

Fasset hits $1B valuation as SBI Group leads $68M Series C to scale ai-powered stablecoin neobanking. The Associated Press Aug 24, 2026, 3:03 AM Mohammad Raafi Hossain, Co-Founder and CEO, Fasset LOS ANGELES-(BUSINESS WIRE)-Aug 24, 2026- Fasset, the AI-powered stablecoin neobanking platform, today announced it has raised $68 million in Series C funding at a $1 billion valuation. The financing was led by SBI Group and follows Fasset's $51 million Series B earlier this year, which brought Speedinvest onto the cap table alongside a group of strategic investors. Mohammad Raafi Hossain, Co-Founder and CEO, Fasset The new capital will support the expansion of Own Network, Fasset's regulated financial network that connects banks, telcos, payment and liquidity providers to enable settlement across international markets. Fasset will also increase investment in agentic AI-enabled systems supporting corridor banking, stablecoin settlement and tokenized asset infrastructure. After raising Series B in May, Fasset has now raised a total of $119 million in 2026. The financing marks Fasset's entry into the global fintech unicorn category. "Fasset's vision of a world in which money moves across borders as easily as information does point in the same direction as the on-chain economic zone that the SBI Group seeks to realize through digital finance. Fasset has already built a strong business foundation and a robust regulatory framework in a number of emerging markets with significant long-term growth potential. It was therefore in the conviction that Fasset can serve as an important financial bridge connecting Japan with high-growth markets around the world that we decided to lead this round. Within the SBI Group's "SBI APAC Digital Economic Zone" concept as well, an international remittance and settlement infrastructure built on stablecoins is a core component. Together with Fasset, we will advance the development of the next generation of on-chain financial systems, extending from the Asia-Pacific region to the Middle East and Africa." said Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI Holdings, Inc. The investment expands Fasset's relationship with SBI Group, one of Japan's leading comprehensive financial groups, spanning banking, securities, asset management, and private equity, with investments in companies including Ripple, Circle, and Morpho, and in group companies including B2C2. "The next phase is about any-to-any banking. Any person to any person. Any asset to any asset. Any rail to any rail, anywhere. We built Fasset to address a simple problem: access to financial opportunity still depends too heavily on where someone lives and the financial system available to them," said Mohammad Raafi Hossain, Co-Founder and CEO of Fasset. "The banking system is broken. It's not enough to build another financial front on current rails. We are investing deeper into the stack, from licenses in emerging markets to enabling agentic payments, to rebuild the way we do banking from the ground up." "Having SBI Group lead this round speeds up our ability to serve the world by having access to the wider SBI financial ecosystem and their partners, including our previously announced partnership with SBI Remit, enabling us to leverage an extensive network that supports bank account remittances to approximately 200 countries." "Fasset is building the regulated infrastructure that helps people and businesses in growth markets access stablecoins, global assets and cross-border rails. That access is still too often shaped by geography. Raafi, Daniel and the team are changing that, and we are proud to have continued backing Fasset as it scales globally," said Stefan Klestil, General Partner at Speedinvest. Building a Financial System Around Ownership Fasset provides financial access that allows customers to receive, hold, move, spend and invest across currencies, markets and asset classes. Underpinning those products is Own Network, Fasset's financial infrastructure connecting local banking systems, payment providers, financial institutions, telcos, liquidity providers, custody partners and settlement networks across more than 100 banking corridors. Stablecoins are used within parts of the network as settlement infrastructure, allowing value to move between markets more efficiently where appropriate. Customers interact with Fasset through financial products and accounts rather than needing to manage the underlying settlement infrastructure themselves. The company uses AI to improve how transactions are routed across payment rails, currencies, liquidity providers, and settlement methods, based on factors including cost, speed, and availability. Fasset is built around a simple conviction: where someone is born should not determine the quality of money they can hold, the markets they can access or the assets they can own. The company is not building another interface on top of the existing financial system. It is building the infrastructure intended to replace it. Scaling Global Infrastructure: $40B Annualized Volume Fasset now processes more than $40 billion in annualized transaction volume, serving more than 3 million wallets across 125 countries and over 1,000 enterprises globally. Its consumer, business and institutional products are supported by a regulatory footprint across the GCC, Asia, Europe and other international markets. The Series C will support Fasset's continued development as a global, AI-powered stablecoin neobanking platform, combining regulated local infrastructure, modern settlement technology and access to global assets through a single financial account. About Fasset Fasset is an AI-powered stablecoin neobanking platform building a global financial system around ownership. Its financial account enables individuals, businesses and institutions to receive, hold, move, spend and invest across currencies, markets and asset classes from one place. Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset has raised more than $150 million in funding and serves customers across more than 125 countries and operates through regulated entities and partnerships across the GCC, Asia, Europe and other international markets. Fasset is powered by Own Network, its regulated financial infrastructure connecting banking, payments, liquidity, custody and settlement across markets. The company is building toward a financial system where access to stable money, global markets and ownership is no longer determined by geography. 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