Fasset Raises $68 Mn Series C at $1 Billion Valuation to Expand AI-Powered Stablecoin Banking

Fasset will use the new funding to expand Own Network, its regulated financial network. The network connects banks, telecom companies, payment providers and liquidity providers to support faster financial settlements across international markets.

The company also plans to invest more in agentic AI technology for international banking, stablecoin settlements and tokenized assets. Fasset aims to use these technologies to build more efficient financial infrastructure for cross-border transactions.

"Fasset's vision of a world in which money moves across borders as easily as information does point in the same direction as the on-chain economic zone that the SBI Group seeks to realize through digital finance. Fasset has already built a strong business foundation and a robust regulatory framework in a number of emerging markets with significant long-term growth potential. It was therefore in the conviction that Fasset can serve as an important financial bridge connecting Japan with high-growth markets around the world that we decided to lead this round. Within the SBI Group's "SBI APAC Digital Economic Zone" concept as well, an international remittance and settlement infrastructure built on stablecoins is a core component. Together with Fasset, we will advance the development of the next generation of on-chain financial systems, extending from the Asia-Pacific region to the Middle East and Africa." said Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI Holdings, Inc.

“The next phase is about any-to-any banking. Any person to any person. Any asset to any asset. Any rail to any rail, anywhere. We built Fasset to address a simple problem: access to financial opportunity still depends too heavily on where someone lives and the financial system available to them,” said Mohammad Raafi Hossain, Co-Founder and CEO of Fasset. “The banking system is broken. It’s not enough to build another financial front on current rails. We are investing deeper into the stack, from licenses in emerging markets to enabling agentic payments, to rebuild the way we do banking from the ground up.”

“Having SBI Group lead this round speeds up our ability to serve the world by having access to the wider SBI financial ecosystem and their partners, including our previously announced partnership with SBI Remit, enabling us to leverage an extensive network that supports bank account remittances to approximately 200 countries.”

“Fasset is building the regulated infrastructure that helps people and businesses in growth markets access stablecoins, global assets and cross-border rails. That access is still too often shaped by geography. Raafi, Daniel and the team are changing that, and we are proud to have continued backing Fasset as it scales globally,” said Stefan Klestil, General Partner at Speedinvest.

Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset is an AI-powered stablecoin neobanking platform that aims to build a global financial system focused on digital ownership. It provides a financial account that brings different financial services together in one place.

Through its platform, individuals, businesses and institutions can receive, hold, transfer, spend and invest money across different currencies, markets and types of assets. This makes it easier for users to manage their finances from a single platform.

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