Fasset Raises $68M Series C Led by SBI Group at $1B Valuation

Fasset, a Los Angeles-based AI-powered stablecoin neobanking platform, raised $68 million in Series C funding at a $1 billion valuation. SBI Group, a Japanese financial services conglomerate, led the round. The raise brings Fasset's total funding in 2026 to $119 million and grants it unicorn status.

Fasset plans to use the capital to expand its Own Network, a regulated financial infrastructure connecting banks, telcos, and payment providers for international market settlement. The company will also invest in agentic AI systems for corridor banking, stablecoin settlement, and tokenized asset infrastructure. Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset provides a platform for individuals, businesses, and institutions to receive, hold, move, spend, and invest across currencies and asset classes.