Fasset reaches $1B valuation following $68M Series C led by SBI Group

Fasset, a stablecoin-focused neobanking platform, has achieved unicorn status with a $1 billion valuation following a $68 million Series C funding round. The financing was led by Japan’s SBI Group.

This latest round brings Fasset’s total fundraising in 2026 to $119 million, following a $51 million Series B in May. The company reports an annualized transaction volume exceeding $40 billion across 125 countries and claims to have been profitable for 12 consecutive months.

The capital will be used to expand Own Network, Fasset’s regulated Ethereum Layer-2 infrastructure built on Arbitrum, which connects various financial institutions across more than 100 banking corridors. Fasset also plans to increase investment in AI-enabled systems for stablecoin settlement, tokenization, and cross-border banking.

Through this investment, SBI Group intends to increase its stake in Fasset, potentially making it an equity-method affiliate. The two entities are also exploring plans to jointly operate a digital bank in Malaysia and collaborate on international remittance infrastructure via SBI Remit.