Fasset, the AI-powered stablecoin neobanking platform, connecting banks, telcos, payment firms and liquidity providers across more than 100 corridors worldwide, has closed a $68m Series C funding round that values the business at $1bn.
The round was led by SBI Group and follows Fasset’s $51m Series B, closed earlier this year, which brought Speedinvest onto the company’s cap table alongside a number of strategic backers.
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. The company also intends to put more resources behind agentic AI systems supporting corridor banking, stablecoin settlement and tokenised asset infrastructure.
Combined with May’s Series B, Fasset has now brought in $119m across 2026, a total that pushes the company into the ranks of the world’s fintech unicorns.
The deal deepens Fasset’s ties with SBI Group, one of Japan’s largest diversified financial groups, active across banking, securities, asset management and private equity, with a portfolio that includes stakes in Ripple, Circle, Morpho and B2C2.
Fasset gives customers the ability to receive, hold, move, spend and invest across different currencies, markets and asset types. Own Network sits behind these products, tying together local banking systems, payment and liquidity providers, custody partners and settlement networks, with stablecoins used in parts of the infrastructure to move value between markets. Customers access these capabilities through accounts and products rather than managing the settlement layer directly, while AI is used to route transactions across rails, currencies and providers based on cost, speed and availability.
The company describes its approach as building infrastructure intended to replace the existing financial system rather than adding another layer on top of it, on the basis that where someone lives should not dictate the money they can hold or the assets they can access.
Fasset now processes more than $40bn in annualised transaction volume, serving over three million wallets across 125 countries and more than 1,000 enterprises, underpinned by a regulatory footprint spanning the GCC, Asia, Europe and other markets.
Fasset co-founder and CEO Mohammad Raafi Hossain said, “The next phase is about any-to-any banking. Any person to any person. Any asset to any asset. Any rail to any rail, anywhere. 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.”
Hossain added, “Having SBI Group lead this round speeds up our ability to serve the world by having access to the wider SBI financial ecosystem and their partners, including our previously announced partnership with SBI Remit, enabling us to leverage an extensive network that supports bank account remittances to approximately 200 countries.”
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