Fasset, a stablecoin-based neobanking platform, raised a $68m Series C led by Japan's SBI Group at a $1bn valuation, it announced on 24 August 2026. The round makes Fasset a unicorn.
The company's release names SBI as the lead and Speedinvest as an earlier investor; it names no other Series C participants. Fasset said the money will expand Own Network, its regulated financial network, and increase investment in agentic AI systems for corridor banking, stablecoin settlement and tokenised asset infrastructure.
“The next phase is about any-to-any banking. Any person to any person. Any asset to any asset.”Mohammad Raafi Hossain, Co-Founder and CEO, Fasset
What Fasset does
Fasset runs a platform for holding, moving and investing across currencies and asset classes, using stablecoins. It was founded in 2019 by Mohammad Raafi Hossain, now chief executive, and Daniel Ahmed.
The company reports more than $40bn in annualised transaction volume, more than 3 million wallets, more than 1,000 enterprise customers in 125 countries, and an Own Network that connects more than 100 banking corridors. These figures come from the company's release and were not independently audited.
Hossain said in the release that the banking system is broken. He told The Block that the next phase is about any-to-any banking: any person to any person, any asset to any asset.
Pulse 2 described Own Network as regulated infrastructure that links banks, telecom companies, payment providers, liquidity providers, custody providers and settlement networks. It said Fasset's AI chooses transaction routes across currencies, payment systems and settlement methods based on cost, speed and availability. Its products let consumers, businesses and institutions receive, hold, transfer, spend and invest across currencies and asset classes.
Who invested
Yoshitaka Kitao, representative director, chairman, president and chief executive of SBI Holdings, said an international remittance and settlement infrastructure built on stablecoins is a core component of SBI's strategy.
Stefan Klestil, a general partner at Speedinvest, said Fasset is building regulated infrastructure that helps people and businesses in growth markets access stablecoins. The Block reported that Fasset is headquartered in Los Angeles; the release is datelined Los Angeles but does not state a headquarters.
Kitao also said in the release that Fasset can serve as an important financial bridge connecting Japan with high-growth markets around the world.
The funding so far
The round came about three months after a $51m Series B raised in May 2026, in which Speedinvest took part. Together the two rounds bring Fasset's 2026 fundraising to $119m, and the company says it has raised more than $150m overall.
The release did not name the lead of the Series B. Fasset did not disclose its headcount.
Why the valuation matters
The Block's report matched the company's release on the round size, the valuation and the Series B, and quoted Hossain on the next phase of the business.
The release did not give revenue figures, so the valuation cannot be set against sales. SBI's investment size was not disclosed.
Company website: fasset.com