Stablecoin Neobank Fasset Hits $1B Valuation on SBI-Led Round

"Customers interact with stablecoins at many different points on our platform," Hossain said, noting they might be moving between a bank account, a payment product, or another asset.

The funding round strengthens Fasset's relationship with SBI Group, which has become one of the more active traditional finance groups in digital assets. SBI's portfolio includes investments in Ripple, Circle and DeFi lender Morpho, along with ownership of liquidity provider B2C2.

Fasset already works with SBI Remit, giving it access to a remittance network spanning roughly 470,000 locations. That network enables bank-account transfers to about 200 countries, Hossain said. "Together, we want to connect more corridors and financial rails across Japan, Asia and other emerging markets."

Neither company has named specific new products or corridors from the partnership. Hossain said the opportunity lies in combining Fasset's infrastructure and distribution with SBI's regulatory expertise. SBI's portfolio of financial companies could support that expansion effort.

The fresh capital will also fund growth of OWN Network and Fasset's AI-driven routing systems, which direct transactions across payment rails, currencies and liquidity providers based on cost, speed and availability.