Fasset Raises $68M at $1B Valuation to Scale Stablecoin Banking

Fasset’s path to a $1 billion valuation is increasingly about what happens underneath a bank account rather than what appears inside the app. The company is assembling regulated banking connections, stablecoin settlement, liquidity providers, custody partners, payment networks, and tokenized assets into infrastructure designed to move money between markets without forcing customers to understand the rails underneath.

The company has raised $68 million in Series C funding led by SBI Group, taking Fasset to a $1 billion valuation. The round arrives only three months after a $51 million Series B and brings its 2026 fundraising to $119 million. Fasset plans to direct the new capital toward expanding Own Network, alongside agentic AI systems for corridor banking, stablecoin settlement, and tokenized-asset infrastructure.

Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset began with the broader ambition of making global investing and financial access less dependent on geography. Its consumer platform now combines accounts, payments, stablecoins, global assets, commodities, and Shariah-compliant investment products, while the infrastructure beneath those services has become increasingly central to the business.

Own Network connects local banks, payment companies, telcos, liquidity providers, custodians, and settlement systems across more than 100 banking corridors. Stablecoins can act as settlement rails within parts of that network, while Fasset uses AI to select routes based on factors including availability, cost, and speed.

The scale has accelerated quickly. Fasset says it now processes more than $40 billion in annualized transaction volume, supports over 3 million wallets across 125 countries, and serves more than 1,000 enterprises. Those figures are company-reported.

SBI’s investment also deepens an existing relationship. Its remittance arm partnered with Fasset earlier this year to connect Japan with international payment corridors using stablecoin infrastructure.