Fasset Reaches $1B with SBI Stablecoin Push

At the core of Fasset's operations is its Own Network, an AI-enabled Ethereum Layer 2 system built on Arbitrum, the company said. This infrastructure links banks, telecom operators, payment providers, and liquidity sources across more than 100 banking corridors. The network uses intelligent routing to improve transactions based on cost and speed, using stablecoins for settlement.

The SBI-led round deepens an existing relationship. Fasset already works with SBI Remit, gaining access to a remittance network that reaches roughly 470,000 locations and supports bank-account transfers to about 200 countries, the company said. Hossain said the partnership will help connect additional corridors and financial rails spanning Japan and broader Asia.

SBI Group, a Japanese financial conglomerate with interests in banking and digital assets, including prior investments in Ripple and Circle, brings regulatory expertise and an extensive partner network, the company said.

Proceeds from the Series C will fund further development of the Own Network and enhanced AI systems that power corridor banking and stablecoin settlement, the company said. The capital also supports expansion of payment services and related infrastructure.

Fasset holds regulatory approvals in jurisdictions including the UAE, parts of Asia, the European Union, Turkey, and Pakistan, with product availability varying by market, the company said.

The Series C brings total funding to $119 million in 2026.