Fasset Hits Unicorn Status with SBI-Led $68B Round

Fasset, a stablecoin-based digital bank, has achieved unicorn status after securing $68 million in a Series C round led by Japan's SBI Group. The funding values the company at $1 billion and marks its third major raise this year, bringing Fasset's total 2026 fundraising to $119 million.

The fresh capital will be used to expand Own Network, a regulated Ethereum layer-2 blockchain built on Arbitrum technology that connects banks, telecom companies, payment firms, and liquidity providers across over 100 banking corridors. Fasset also plans to bolster its AI systems for routing transactions based on cost, speed, and availability.

The company has already secured approvals in several countries, including Dubai's Virtual Assets Regulatory Authority (VARA), Indonesia, Pakistan, Türkiye, and Malaysia. It serves over 3 million wallets and more than 1,000 enterprises in 125 countries, with annualized transaction volume exceeding $40 billion.

Fasset CEO Mohammad Raafi Hossain stated that revenue has grown roughly six times year-over-year and the company has been profitable for 12 straight months. SBI's chairman and CEO Yoshitaka Kitao said the investment will help connect Japan to faster-growing economies, making stablecoin payments easier across Asia, the Middle East, and Africa.