Fasset raises $68M Series C at $1B valuation to scale AI-powered stablecoin banking

Fasset has raised $68 million in Series C funding at a $1 billion valuation, pushing the stablecoin neobanking startup into unicorn territory just months after closing its previous round.

Japan’s SBI Group led the financing. The deal follows Fasset’s $51 million Series B in May, bringing its total 2026 raise to $119 million. Speedinvest, which joined Fasset’s cap table through the Series B, remains an investor.

The new funding arrives as stablecoins move beyond crypto trading and increasingly compete for a role in cross-border payments and settlement. Fasset is betting that pairing stablecoins with regulated banking infrastructure and AI can make moving money between countries cheaper and more efficient.

Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset operates across more than 125 countries and says it serves more than 3 million wallets and over 1,000 enterprises. The company reports more than $40 billion in annualized transaction volume.

That scale helps explain why SBI is deepening its relationship with the company.

“Fasset’s vision of a world in which money moves across borders as easily as information does point in the same direction as the on-chain economic zone that the SBI Group seeks to realize through digital finance. Fasset has already built a strong business foundation and a robust regulatory framework in a number of emerging markets with significant long-term growth potential,” SBI Holdings CEO Yoshitaka Kitao said.

SBI’s involvement brings more than capital. The Japanese financial group operates across banking, securities, asset management and private equity and has backed major digital asset companies including Ripple and Circle. Fasset previously announced a partnership with SBI Remit, giving it access to a remittance network supporting bank-account transfers to roughly 200 countries.

Fasset wants to rebuild the rails beneath banking

At the center of Fasset’s strategy is Own Network, its financial infrastructure that connects banks, payment companies, telcos, liquidity providers, custodians, and settlement networks across more than 100 banking corridors.

Stablecoins serve as settlement infrastructure across parts of that network. Customers don’t need to manage those mechanics themselves. They interact through Fasset accounts that let them receive, hold, move, spend and invest across currencies and asset classes.

AI enters deeper in the stack. Fasset says its systems can determine how transactions should move across currencies, payment rails, liquidity providers and settlement methods using factors such as cost, speed and availability. The Series C will fund further work on agentic AI systems for corridor banking, stablecoin settlement and tokenized assets.

“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,” Hossain said. “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.”

Fasset’s pitch goes beyond building another digital bank. It wants to own more of the infrastructure connecting local financial systems to stablecoins and global assets, particularly across growth markets where cross-border banking can remain fragmented and expensive.

The $1 billion valuation puts Fasset into an increasingly crowded race involving fintechs, crypto companies, banks and payment giants seeking a piece of stablecoin settlement. Its $40 billion annualized transaction volume gives the company something more meaningful than a fresh unicorn label: evidence that its infrastructure is already moving money at considerable scale.

The bigger test comes next. Fasset now has $68 million more to prove that stablecoins and AI can become part of everyday banking infrastructure rather than remain technologies customers mostly encounter through crypto.