Bahrain Investcorp participates in $51 million investment in Fasset
UAE regulated Fasset, a banking and investment platform as well as digital asset exchange, has raised $51 million in a Series B funding to expand its Los Angeles stablecoin powered neobank with cross border payments infrastructure. The investors included SBI Group, MENA based Investcorp, ArPortföy and a number of strategic family offices.
“We are building Fasset for a world where money moves as easily across borders as information does,” said Mohammad Raafi Hossain, CEO and Co-Founder of Fasset. “This funding round strengthens our ability to build regulated banking services and expand into new markets where our services are needed most. The Series B provides tangible opportunities to support real-world economic activity, from everyday consumers to SMEs and global trade, on infrastructure that our users can trust.”
The capital raise will be used to expand its proprietary Own Network infrastructure, which processes over $32 billion in annualized transaction volume across 125 countries and more than 50 payment corridors. The company also plans to expand further across Asia, Africa and the Americas, while growing its lending, SME banking and trade finance capabilities. The Own Network is designed to make stablecoins and tokenized real-world assets everyday financial tools rather than niche crypto products.
Fasset operates across several regulated markets including the UAE, Indonesia, Malaysia, Pakistan, Türkiye and parts of Europe. The company said its platform currently supports more than two million wallets across 125 countries and processes approximately $32 billion in annualised transaction volume.
The funding also follows Fasset’s recent partnership with Tether to develop a gold-backed neobanking card and ATM offering, highlighting growing experimentation around asset-backed digital finance products.
The company, , plans to use the capital for geographic expansion into the Americas, Africa, and Asia, development of lending and trade finance products for small businesses, and scaling of its proprietary financial infrastructure called Fasset’s Own Network. The raise, reported as the largest payments Series B of 2026 by Dealroom data, comes amid surging institutional interest in stablecoin payment infrastructure, with the global fiat-backed stablecoin supply exceeding $273 billion. Fasset holds regulatory licenses in multiple jurisdictions including the UAE, Indonesia, Malaysia, the EU, Turkey, and Pakistan, and operates a Shariah-compliant model that has helped it gain traction in Gulf and South Asian markets. Independent verification of the round’s full terms remains limited, with details relying on company disclosures.
A Los Angeles-based digital banking startup just closed one of the largest payments funding rounds of the year, pulling in $51 million to push stablecoins deeper into the financial mainstream across emerging markets.
SBI’s regional network could accelerate Fasset’s access to Asian payment rails and banking partnerships. The Japanese group’s emerging-market blockchain investment strategy aligns neatly with Fasset’s focus on corridors in South Asia, Southeast Asia, the Middle East, and Africa.
Fasset itself recently partnered with Tether, the issuer of the world’s largest stablecoin USDT, to launch a gold-backed neobanking card tied to tokenized assets. The card will operate on the Visa network, enabling users to spend USD at all merchant stores worldwide that accept Visa cards, while earning up to 6% cashback in XAU₮ on eligible transactions
