Crypto▲ Bullish
Fasset Hits $1B Valuation on $51M Series B Led by SBI Group
Fasset's $51M Series B values the stablecoin neobank at $1.05B. SBI Group led the round as the firm processes $32B in cross-border volume across 125 countries.
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Fasset crossed the unicorn threshold this week. The stablecoin neobank closed a $51 million Series B funding round that values the company at roughly $1.05 billion. Japanese financial giant SBI Group led the round alongside Investcorp and Arz Portföy, a Turkish firm.
The financing brings Fasset's total capital raised past $78 million. It lands at a moment when stablecoin-based cross-border payments are gaining serious traction against legacy wire networks like SWIFT and Western Union.
Fasset's business model is straightforward on paper: move money across borders cheaply, quickly, and within regulatory bounds. The company now processes $32 billion in annualized transaction volume across more than 50 payment corridors in Asia, Africa, and the Middle East. Its network reaches users in 125 countries.