Fasset has crossed into unicorn territory, closing a $68M Series C at a $1B valuation led by Japan’s SBI Group. The stablecoin neobanking startup follows its $51M Series B in May, bringing its total 2026 raise to $119M.
Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset operates across more than 125 countries, serving over 3 million wallets and more than 1,000 enterprises with over $40B in annualized transaction volume. Its Own Network infrastructure connects banks, payment companies, telcos and settlement networks across more than 100 banking corridors, using stablecoins as settlement rails that customers never have to manage directly.
Hossain frames the next phase as any-to-any banking, where people, assets and payment rails connect directly. The Series C funds agentic AI systems that pick the fastest, cheapest route for each transfer across currencies and settlement networks, part of a push into corridor banking and tokenized assets.
SBI’s involvement brings more than capital. The Japanese group has backed Ripple and Circle, and Fasset previously linked up with SBI Remit, gaining access to a remittance network covering bank-account transfers to roughly 200 countries. The deal deepens a race among fintechs, banks and payment giants to own stablecoin settlement in emerging markets, where cross-border banking remains fragmented and expensive.
