Key Takeaways:
Stablecoin-powered neobank Fasset has closed a $51 million Series B funding round to expand its regulated payments infrastructure in emerging markets, signaling growing investor interest in blockchain-based banking solutions.
"This funding round strengthens our ability to build regulated banking services and expand into new markets where our services are needed most," Mohammad Raafi Hossain, CEO and co-founder of Fasset, said in the announcement. The round was co-led by Japan’s SBI Group and Bahrain-based Investcorp, with participation from Turkish asset manager Arz Portföy.
The Los Angeles-based company will use the capital to accelerate the development of its proprietary “Own Network” platform, which powers stablecoin payments and custody across more than 50 banking corridors. Fasset currently processes over $32 billion in annualized transaction volume for more than 2 million wallets and 1,000 SME clients. The firm noted that institutional usage on its platform grew tenfold in 2025, highlighting rising demand for compliant, stablecoin-based financial services.
The investment brings Fasset’s total funding to over $78 million and aims to bridge the gap in regions where traditional banking is fragmented or slow. The expansion is anchored on securing regulatory approvals in the UAE, Indonesia, the European Union, and Pakistan, positioning Fasset to capture a larger share of the B2B payments and trade finance market. The move follows a partnership with Tether to launch a gold-backed neobanking card, further integrating stablecoin utility into everyday finance.
A stablecoin is a type of cryptocurrency whose value is pegged to another asset, commonly a fiat currency like the U.S. dollar, to maintain a stable price. Fasset's focus on using these digital assets for B2B and cross-border payments aims to provide faster and more cost-effective solutions than traditional financial rails.
The investment from a major financial institution like SBI Group, which has been actively expanding its portfolio of tokenized securities and stablecoin services, adds significant validation. For investors like Investcorp and Arz Portföy, the deal provides exposure to the rapidly growing digital asset infrastructure in markets across Asia, Africa, and the Middle East.
This article is for informational purposes only and does not constitute investment advice.
