Stablecoin-focused digital bank Fasset has raised USD 68 million in a funding round led by Japan-based SBI Group, valuing it at USD 1 billion.
The round comes three months after Fasset closed a USD 51 million financing in May 2026, which involved early backer Speedinvest alongside a group of strategic investors. The two rounds bring the company's total funding for 2026 to USD 119 million.
Fasset, headquartered in the US, operates a financial platform that allows consumers and businesses to hold, send, spend, and invest across currencies and assets, using stablecoins as part of the underlying settlement infrastructure. The company said it processes more than USD 40 billion in annualised transaction volume across 125 countries. According to Fasset's chief executive, revenue has grown roughly six-fold year on year, and the company has been profitable for 12 consecutive months. Fasset did not disclose specific revenue or profit figures. Revenue has come mainly from the company's institutional and retail businesses, including stablecoin payments and settlement activity, with cards and bank accounts beginning to contribute additional revenue.
Stablecoin settlement infrastructure
Fasset's operations run on Own Network, a proprietary Ethereum Layer 2 infrastructure built on Arbitrum and described by the company as AI-enabled. The network connects banks, telecom companies, payment firms, liquidity providers and other financial institutions across more than 100 banking corridors. Stablecoins function as a settlement layer within this infrastructure, including in transactions where customers do not directly send or receive stablecoins themselves.
The company positions itself within a broader group of fintechs building financial services around blockchain networks and stablecoins, a sector that has expanded beyond crypto-exchange transfers into remittances, corporate treasury operations and international payments. This use case is particularly relevant in emerging markets, where cross-border transfers can pass through multiple correspondent banks, adding processing time and fees.
Expanding through SBI
The funding round deepens Fasset's relationship with SBI Group and gives it access to the Japan-based group's wider financial network. SBI has made a series of investments in the digital asset sector, including in Ripple, Circle and DeFi lender Morpho, and owns crypto liquidity provider B2C2. The group has also backed blockchain infrastructure and stablecoin-related projects as part of its digital asset strategy.
Fasset already works with SBI Remit, which gives it access to a remittance network spanning around 470,000 locations and bank-account transfers to approximately 200 countries. The companies plan to work across SBI's broader portfolio to expand Own Network, though no specific products or new corridors have been named. Fasset's chief executive said the aim is to combine the company's infrastructure and distribution capabilities with SBI's regulatory expertise and portfolio of financial companies to connect additional corridors across Japan, Asia, and other emerging markets.
The new capital is expected to go toward expanding Own Network and Fasset's AI-based systems, which route transactions across payment rails, currencies, liquidity providers, and settlement methods based on factors including cost, speed, and availability.
