$68 Million Raise Brings Fasset Valuation to $1 Billion

The stablecoin neobank Fasset has secured $68 million in a new funding round led by SBI Group, a Japanese financial corporation. This investment brings the company's valuation to $1 billion, just three months after it raised $51 million in May 2026.

Fasset specializes in using stablecoins for payment and settlement solutions for institutional and retail clients. According to CEO Mohammad Raafi Hossein, the company's revenue has increased approximately sixfold over the past year, while maintaining profitability for 12 consecutive months.

The primary sources of Fasset's revenue are institutional and retail payments in stablecoins, as well as new products such as payment cards and bank accounts. The company plans to direct the received investments towards expanding its own payment infrastructure, particularly OWN Network, a Layer 2 solution on Ethereum built on Arbitrum using artificial intelligence systems.