Key Takeaways
- • Fasset, a stablecoin-powered neobank, raised $68 million in a Series C funding round led by Japan's SBI Group, achieving a $1 billion valuation and unicorn status.
- • The company has demonstrated strong operational momentum, with revenue growing six-fold year-over-year and maintaining profitability for 12 consecutive months while processing over $40 billion in annualized transaction volume across 125 countries.
- • This funding round closes just three months after a $51 million Series B in May, bringing Fasset's total 2026 capital raise to $119 million and signaling rapid investor confidence in stablecoin-based financial infrastructure.
- • CEO Mohammad Raafi Hossain stated the company will leverage SBI's financial network to expand payment corridors across Japan, Asia, and emerging markets, with revenue diversifying across institutional and retail channels including cards, bank accounts, and stablecoin settlement services.
Summary
Fasset, a Los Angeles-headquartered stablecoin-focused digital banking platform, has crossed into unicorn territory following a $68 million Series C funding round led by Japan's SBI Group, valuing the company at $1 billion. The investment represents a significant acceleration in the company's capital raise trajectory, coming just three months after a $51 million Series B round in May, bringing total 2026 funding to $119 million. Early backer Speedinvest and strategic investors participated alongside SBI in the latest round.
The fintech platform operates a multi-currency financial infrastructure built on stablecoin settlement mechanisms, enabling consumers and businesses to hold, send, spend, and invest across multiple assets and currencies. Fasset currently processes over $40 billion in annualized transaction volume spanning 125 countries, demonstrating substantial market traction and operational scale. The company's service offerings have expanded to include retail and institutional banking products, with revenue generation diversifying across stablecoin payments, settlement activity, and newly launched cards and bank account products.
CEO Mohammad Raafi Hossain disclosed that Fasset has achieved six-fold revenue growth year-over-year and maintained profitability for 12 consecutive months, though the company declined to disclose specific financial figures. The company attributes its expansion to accelerating adoption of stablecoin-based payments and settlement infrastructure, particularly within institutional and retail customer segments. Going forward, Fasset plans to utilize SBI's established financial network to deepen payment corridors across Japan, Asia, and emerging markets, positioning the stablecoin neobank as a critical bridge for cross-border financial services in regions with limited traditional banking infrastructure.
The fintech platform operates a multi-currency financial infrastructure built on stablecoin settlement mechanisms, enabling consumers and businesses to hold, send, spend, and invest across multiple assets and currencies. Fasset currently processes over $40 billion in annualized transaction volume spanning 125 countries, demonstrating substantial market traction and operational scale. The company's service offerings have expanded to include retail and institutional banking products, with revenue generation diversifying across stablecoin payments, settlement activity, and newly launched cards and bank account products.
CEO Mohammad Raafi Hossain disclosed that Fasset has achieved six-fold revenue growth year-over-year and maintained profitability for 12 consecutive months, though the company declined to disclose specific financial figures. The company attributes its expansion to accelerating adoption of stablecoin-based payments and settlement infrastructure, particularly within institutional and retail customer segments. Going forward, Fasset plans to utilize SBI's established financial network to deepen payment corridors across Japan, Asia, and emerging markets, positioning the stablecoin neobank as a critical bridge for cross-border financial services in regions with limited traditional banking infrastructure.
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