Key Takeaways
- • Fasset, a Los Angeles-headquartered stablecoin-powered neobank, raised $51 million in Series B funding from investors including Japan's SBI Group, Investcorp, and Turkish asset manager Arz Portföy, positioning it among the top ten fintech Series B fundraises globally in 2026.
- • The company operates banking and payments services across more than 50 corridors spanning Asia, Africa, and the Middle East, processing $32 billion in annualized volume and serving 125 countries using stablecoins to enable faster, lower-cost cross-border transactions than traditional banking infrastructure.
- • Fasset plans to deploy capital toward geographic expansion, development of lending and trade finance products for small businesses, and scaling "Own Network," its proprietary stablecoin payments and custody infrastructure.
- • The funding reflects accelerating institutional adoption of stablecoin-based financial services as alternatives to traditional payment networks, with comparable fintech players like Slash raising larger rounds ($100 million) at significantly higher valuations ($1.4 billion) in the same market cycle.
- • Stablecoins are emerging as one of crypto's fastest-growing sectors, with demonstrated utility in remittances, treasury management, and international commerce—areas where settlement delays and foreign exchange costs represent persistent friction in traditional banking.
Summary
Fasset, a Shariah-compliant digital bank headquartered in Los Angeles, secured $51 million in Series B funding to expand its stablecoin-powered banking and payments platform across emerging markets. The round included strategic backing from Japan's SBI Group, diversified asset manager Investcorp, and Turkish portfolio firm Arz Portföy. The company did not disclose post-money valuation for the round, completed on May 14, 2026.
The neobank currently operates across more than 50 international corridors spanning Asia, Africa, and the Middle East, generating $32 billion in annualized transaction volume while serving 125 countries. Fasset's core infrastructure leverages dollar-backed stablecoins to execute cross-border payments faster and at lower cost than conventional banking channels, addressing persistent inefficiencies in remittance corridors and international commerce.
Fasset intends to allocate the capital toward three strategic initiatives: expansion into additional geographic markets, development of lending and trade finance products tailored to small business segments, and expansion of "Own Network," the company's proprietary infrastructure for stablecoin payments processing and digital asset custody. This deployment reflects institutional confidence in stablecoin infrastructure as a viable alternative to legacy payment rails.
The round underscores a broader institutional pivot toward blockchain-native financial services. Comparable competitor Slash raised $100 million in recent months at a $1.4 billion valuation while developing stablecoin payment products in partnership with Stripe's Bridge platform. Both firms target the same structural problem: eliminating settlement delays and foreign exchange friction in global commerce. Stablecoins have emerged as one of the fastest-growing segments within digital assets, with expanding use cases in remittances, corporate treasury management, and international trade settlement—areas where traditional banking infrastructure remains slow and expensive.
The neobank currently operates across more than 50 international corridors spanning Asia, Africa, and the Middle East, generating $32 billion in annualized transaction volume while serving 125 countries. Fasset's core infrastructure leverages dollar-backed stablecoins to execute cross-border payments faster and at lower cost than conventional banking channels, addressing persistent inefficiencies in remittance corridors and international commerce.
Fasset intends to allocate the capital toward three strategic initiatives: expansion into additional geographic markets, development of lending and trade finance products tailored to small business segments, and expansion of "Own Network," the company's proprietary infrastructure for stablecoin payments processing and digital asset custody. This deployment reflects institutional confidence in stablecoin infrastructure as a viable alternative to legacy payment rails.
The round underscores a broader institutional pivot toward blockchain-native financial services. Comparable competitor Slash raised $100 million in recent months at a $1.4 billion valuation while developing stablecoin payment products in partnership with Stripe's Bridge platform. Both firms target the same structural problem: eliminating settlement delays and foreign exchange friction in global commerce. Stablecoins have emerged as one of the fastest-growing segments within digital assets, with expanding use cases in remittances, corporate treasury management, and international trade settlement—areas where traditional banking infrastructure remains slow and expensive.
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