Fasset achieves $1B valuation with SBI backing for stablecoin payments expansion

Fasset, a Los Angeles-based neobank built on stablecoin rails, has crossed the unicorn threshold after closing a $51 million Series B funding round that values the company at roughly $1.05 billion. Japanese financial heavyweight SBI Group led the charge alongside Investcorp and Turkish firm Arz Portföy, signaling that traditional finance players are increasingly comfortable betting serious money on crypto-native payment infrastructure. The round brings Fasset’s total funding past $78 million and arrives at a moment when stablecoin-powered remittances are shifting from niche experiment to genuine competitive threat against legacy money transfer networks. Building a 125-country payments machine Fasset’s pitch centers on a problem that’s easy to understand but brutally hard to solve: moving money across borders cheaply, quickly, and compliantly. The company now processes $32 billion in annualized transaction volume across more than 50 payment corridors spanning Asia, Africa, and the Middle East, reaching users in 125 countries. The fresh capital will fund expansion of the company’s proprietary Own Network, which is designed specifically for cross-border stablecoin transactions. It wil...