Stablecoin neobank Fasset has raised $68 million in a new funding round led by Japanese financial group SBI Group. Following the deal, the company reached a valuation of $1 billion, giving Fasset unicorn status.
The company plans to use the new capital for international expansion, development of its payment infrastructure, improvement of artificial intelligence systems, and further growth of its proprietary OWN Network. Fasset intends to focus particularly on Japan, other Asian countries, and emerging markets where demand for fast cross-border payments and remittances continues to increase.
The investment came roughly three months after Fasset raised $51 million in a previous funding round. As a result, the company has raised a total of $119 million this year. The earlier round included participation from early investor Speedinvest and other strategic backers.
Fasset Expands Its Global Payments Business
Fasset operates a financial platform that allows individuals and businesses to store, transfer, spend, and invest funds across different currencies and digital assets. One of the key features of the company’s infrastructure is the use of stablecoins as an underlying settlement mechanism.
Users do not necessarily need to interact directly with digital dollars or understand the technical details of blockchain technology. Customers can use familiar banking accounts, payment cards, national currencies, or other financial products while stablecoins handle settlements in the background.
According to the company, Fasset operates across 125 countries and processes more than $40 billion in annual transaction volume. CEO Mohammad Raafi Hossain said the company’s revenue increased roughly sixfold over the past year.
Fasset also says it has remained profitable for 12 consecutive months, although it has not disclosed specific revenue or net profit figures. A significant portion of its income comes from institutional and retail financial services, including stablecoin payments and settlement services. Bank accounts and payment cards are also beginning to generate additional revenue.
Fasset’s growth reflects a broader trend in financial markets. Stablecoins are increasingly being used for international transfers, corporate settlements, and moving money across borders because they can reduce the number of intermediaries and speed up transactions.
In the traditional banking systеm, an international transfer may pass through several correspondent banks before reaching the final recipient. Each additional intermediary can increase the cost of the transaction and extend settlement times. Stablecoins make it possible to build a more direct payment infrastructure while maintaining a familiar interface for the customer.
OWN Network Connects Banks and Payment Companies
At the core of Fasset’s infrastructure is its proprietary OWN Network, an Ethereum Layer 2 solution built using Arbitrum technology.
The network connects banks, telecommunications companies, payment providers, liquidity providers, and other financial institutions across more than 100 banking corridors. This allows funds to move between different financial systems by combining traditional payment channels with blockchain infrastructure.
Fasset also uses artificial intelligence to sеlect optimal payment routes. The company’s systems analyze different currencies, liquidity providers, and settlement channels while taking into account transaction costs, payment speed, and infrastructure availability.
This approach allows the systеm to automatically determine the most suitable route for each transaction. For the end user, the process remains simple, while complex operations involving currencies, financial institutions, and blockchain networks are handled within Fasset’s infrastructure.
Part of the new funding will be used to further develop OWN Network, improve payment-routing systems, and connect additional financial partners.
SBI Group Could Help Fasset Expand Across Asia
The new funding round significantly strengthens Fasset’s relationship with Japan’s SBI Group, which has been actively developing its digital asset and blockchain infrastructure businesses.
SBI has invested in several major companies and projects across the crypto industry, including Ripple, Circle, and Morpho. The group also owns institutional crypto liquidity provider B2C2 and participates in the development of various stablecoin and blockchain payment initiatives.
For Fasset, cooperation with SBI provides not only additional capital but also potential access to the Japanese financial conglomerate’s extensive banking and payment network.
Fasset already works with SBI Remit, an international money transfer service. Its infrastructure provides access to approximately 470,000 service locations and enables transfers to bank accounts in around 200 countries.
The companies plan to expand their cooperation, connect additional payment corridors, and develop financial infrastructure across Japan, Asia, and other emerging markets. However, no specific new products or next expansion markets have been announced yet.
Stablecoins Are Becoming Part of Traditional Finance
Fasset’s strategy is based on combining traditional banking infrastructure with stablecoin-based settlements. Users continue to interact with familiar financial products, while blockchain technology operates as the underlying layer for faster movement of funds.
This approach may be particularly useful in markets where international transfers remain expensive or slow. Instead of requiring customers to manage crypto wallets, networks, and tokens themselves, Fasset aims to move much of the technical complexity into its own infrastructure.
Reaching a $1 billion valuation highlights growing investor interest in companies that use stablecoins not only as crypto assets but also as the foundation for global payment systems.
The newly raised $68 million is expected to help Fasset expand OWN Network, improve its artificial intelligence systems, connect more banks and payment companies, and strengthen its presence in international markets. As demand for faster cross-border settlements continues to grow, the company plans to keep scaling and reinforce its position in the global fintech sector.