Funding Round and Valuation
<cite index="9-1">Fasset, the AI-powered stablecoin neobanking platform, announced on August 24, 2026 that it has raised $68 million in Series C funding at a $1 billion valuation.</cite> <cite index="9-6">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.</cite> <cite index="1-4,1-5">The round follows the Series B completed in May, bringing Fasset's 2026 fundraising total to $119 million. The company said it has raised more than $150 million since its founding in 2019, including a $22 million Series A in 2022.</cite>
<cite index="1-6">SBI Holdings confirmed the investment, saying Fasset's $1 billion corporate value was calculated using the acquisition price of shares in the transaction.</cite> <cite index="1-7">SBI did not disclose how much of the Series C it contributed.</cite> <cite index="1-8">The Japanese financial group first invested in Fasset in May and now intends to acquire additional interests with the goal of making the company an equity-method affiliate.</cite>
Scale and Operating Metrics
<cite index="9-4">Fasset now processes more than $40 billion in annualized transaction volume, serving 3 million+ wallets and more than 1,000 enterprises across 125 countries.</cite> <cite index="11-6,11-7">Revenue has grown roughly six-fold year over year, and the company has been profitable for 12 consecutive months, though Fasset did not disclose its revenue or profit figures.</cite> <cite index="11-8">Revenue came mainly from its institutional and retail businesses, including growing stablecoin payments and settlement activity.</cite>
<cite index="8-8">Regulatory approvals span markets including the United Arab Emirates, Indonesia, Malaysia, the European Union, Turkey, and Pakistan.</cite>
Own Network: The Infrastructure Layer
<cite index="5-4">The fresh capital will go towards growing Own Network, Fasset's regulated financial infrastructure linking banks, telecoms operators, payment firms and liquidity providers to enable cross-border settlement.</cite> <cite index="1-15">SBI said Own Network currently connects 16 blockchain networks and more than 100 banking corridors.</cite> <cite index="5-9">AI is used to route transactions across rails, currencies, and providers based on cost, speed, and availability.</cite>
<cite index="18-5">Fasset will also increase investment in agentic AI-enabled systems supporting corridor banking, stablecoin settlement, and tokenized asset infrastructure.</cite> <cite index="12-5">Stablecoins form a core part of the behind-the-scenes settlement layer, even when users interact primarily with traditional bank accounts, cards, or payment products.</cite>
SBI Group Strategic Alignment and Malaysia Digital Bank
<cite index="3-9">SBI Group is 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.</cite> <cite index="1-11">SBI said the companies plan to jointly operate a digital bank in Malaysia and distribute tokens issued by Fasset.</cite> <cite index="1-12,1-13">Fasset Islamic Digital Bank Limited received conditional approval from the Labuan Financial Services Authority in 2025 to operate under its Islamic digital banking sandbox, meaning the planned banking operation is still subject to regulatory and operational requirements before it can be treated as a fully unrestricted digital bank.</cite>
<cite index="8-9">Yoshitaka Kitao, chairman and chief executive of SBI Holdings, said Fasset could serve as a financial bridge connecting Japan with high-growth markets.</cite> <cite index="3-15">Within the SBI Group's "SBI APAC Digital Economic Zone" concept, an international remittance and settlement infrastructure built on stablecoins is a core component.</cite>
Context and Caveats
<cite index="9-8">Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset operates through regulated entities and partnerships across the GCC (Gulf Cooperation Council), Asia, Europe, and other international markets.</cite> All transaction volume and wallet figures cited are company-reported run-rate metrics and have not been independently audited.