Fasset raises a total of $119 million so far in 2026, valuing the company at $1 billion
UAE regulated Fasset, the AI powered stablecoin neobanking platform has raised $68 million for its Series C Funding led by SBI Group. This follows Fasset’s $51 million Series B funding this year as well. SBI Holding participated in both rounds. The company is now valued a $1 billion. 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.
As per the announcement, the new capital will be utilized to expand their Blockchain network Own which connects banks, telcos payment and liquidity providers to enable settlement across international markets. The funding will also be used to increase investments in agentic AI which will be used to support corridor banking, stablecoin settlement and tokenized asset infrastructure.
Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI Holdings, Inc. noted on the funding that 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.
He added, “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.
SBI CEO intends to work with Fasset to advance the development of the next generation of on-chain financial systems, extending from the Asia-Pacific region to the Middle East and Africa.
Mohammad Raafi Hossain, Co-Founder and CEO of Fasset explains that the next phase of any to any banking, any person to any person, any asset to any asset, any rail to any rail anywhere. He explains that Fasset was built to address a simple problem access to financial opportunity. He states, “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.”
On LinkedIn Hossain stated, Today, we’re announcing Fasset’s $68 million Series C, led by SBI, at a $1 billion valuation. SpeedInvest is also joining our cap table. Combined with our Series B from four months ago, we’ve raised $119 million in 2026. Additionally, Fasset has now been profitable for 12 consecutive months. Revenue has grown more than sixfold year on year. We have strengthened our team, established a deeper presence in the US and developed a much clearer path to our vision of the future corridor and asset-backed banking.”
He notes that this was achieved without changing what kind of company they wanted to build, and did not depend on speculation. He notes that they just kept building.
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 also 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.
