Stablecoin Neobank Fasset Reaches Unicorn Status With Latest $68M Funding

Fasset, a stablecoin-based neobanking platform, has now joined the unicorn club with the latest $68 million funding round. Led by Japan’s SBI Group, the investment has pushed the company’s valuation to $1 billion.

Notably, Fasset is exploring possibilities of strengthening its cross-border payment network and expanding stablecoin settlement services with this fresh funding. As part of its long-term views, the neobank also plans to invest in AI-powered systems to support banking, payments, and tokenized assets across international markets.

Fasset eyes financial expansion with new funding

Fasset has reportedly secured a staggering $68 million in a Series C funding round led by Japan’s SBI Group. As the funding brings the platform’s valuation to $1 billion, it is now looking to expand its cross-border payment and settlement infrastructure.

As per official reports, the company plans to use the funds to strengthen Own Network. It is the company’s financial infrastructure that connects banks, payment providers, liquidity providers, and other financial institutions across 100 international markets.

Fasset CEO Mohammad Raafi Hossain stated that the company’s next phase will be focusing on connecting people, assets, and payment networks more easily. He added,

“We built Fasset to address a simple problem: access to financial opportunity still depends too heavily on where someone lives and the financial system available to them. The banking system is broken. 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.”

Fasset bets on AI and stablecoins to transform payments

Significantly, SBI Group’s latest investment in Fasset comes amid the rising importance of stablecoins in the global payments market. Stable tokens are now increasingly used to make cross-border money transfers easier and faster.

Stablecoins are reportedly used as part of the company’s settlement infrastructure. These tokens help move funds between different markets more effectively. Customers will be able to access these services through Fasset’s financial products and accounts without having to deal with the underlying settlement process themselves. Stefan Klestil, General Partner at Speedinvest, noted,

“Fasset is building the regulated infrastructure that helps people and businesses in growth markets access stablecoins, global assets and cross-border rails. That access is still too often shaped by geography. Raafi, Daniel and the team are changing that, and we are proud to have continued backing Fasset as it scales globally.”

In addition to stablecoins, the company is also exploring the AI space and its possibilities in payment networks. Fasset is using AI to enhance transaction routing between different payment networks, currencies, liquidity providers, and settlement methods. The company will consider factors such as transaction cost, speed, and availability.