SBI Leads $68M Fasset Series C at $1B Valuation

Stablecoin neobanking platform Fasset has raised $68 million in a Series C funding round led by Japan’s SBI Group at a $1 billion valuation.

The financing follows Fasset’s $51 million Series B in May and brings the company’s total funding raised in 2026 to $119 million, Fasset said Monday. The quick turnaround between rounds, which values Fasset above the billion-dollar mark, points to rising interest from established financial groups in stablecoin payment infrastructure, an area that has drawn growing investment as banks and payment companies explore faster cross-border settlement.

In a separate statement on Monday, SBI Holdings said it made an additional investment in Fasset after first investing in the company in May. The Japanese financial group did not disclose the size of its latest investment.

SBI said it plans to increase its stake in Fasset through the exercise of warrants after the Series C round closes, with Fasset expected to become an equity-method affiliate of the group.

The companies also plan to jointly operate a digital bank in Malaysia and distribute Fasset-issued tokens, according to SBI. Malaysia’s central bank has been licensing digital banks since issuing its first batch of licenses in 2022.

Fasset said the new capital will be used to expand Own Network, its infrastructure connecting banks, payment companies, liquidity providers and other financial institutions across more than 100 banking corridors. Such corridors sit at the center of the cross-border payments market, where stablecoin settlement is being adopted as an alternative to slower, multi-step correspondent banking chains. The company also plans to increase investment in artificial intelligence systems used for stablecoin settlement, tokenization and cross-border banking.

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