Crypto▲ Bullish
Fasset Reaches Unicorn Status With $68M SBI Investment
The stablecoin banking platform hit a $1B valuation after a $68M round led by Japan's SBI Group. Revenue has grown six-fold, the CEO said, and the firm is profitable.
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Stablecoin banking platform Fasset has reached a $1 billion valuation after closing a $68 million funding round led by Japan's SBI Group. The company announced the Series C round on August 24, bringing its total capital raised in 2026 to $119 million, following a $51 million raise in May.
The platform lets users manage and invest across multiple currencies and digital assets. Stablecoins provide the settlement layer, operating behind the scenes even when end-users don't directly interact with crypto. Chief Executive Mohammad Raafi Hossain said revenue has expanded six-fold compared to last year, and the firm has stayed profitable over the past 12 months. Specific financial figures were not disclosed.
Fasset processes more than $40 billion in yearly transaction volume across 125 countries. It runs on OWN Network, an AI-enhanced Ethereum Layer 2 solution built on Arbitrum technology that connects financial institutions, telecom providers, payment processors, and liquidity sources through over 100 banking channels.