Fasset, a Los Angeles-based AI-powered stablecoin neobanking platform, has reached a $1 billion valuation after closing a $68 million Series C round led by Tokyo-based SBI Group, following a $51 million Series B raised earlier in the year and bringing Fasset’s total 2026 funding to $119 million. Fasset lets consumers and businesses hold, transfer, spend, and invest across currencies and assets, using stablecoins as the settlement layer behind its proprietary Own Network, an AI-enabled Ethereum Layer 2 built on Arbitrum that connects banks, telecom operators, payment providers, and liquidity sources across more than 100 corridors. The main objective is to expand Own Network’s regulated cross-border settlement capacity for member banks and liquidity providers and to invest further in agentic-AI systems supporting corridor banking, stablecoin settlement, and tokenization services; the company reports serving more than 3 million wallets and 1,000-plus enterprises while processing over $40 billion in annual transaction volume across 125 countries, with 12 consecutive months of profitability and sixfold year-over-year revenue growth. Key players include Fasset CEO and co-founder Mohammad Raafi Hossain, who described the goal as “any-to-any banking” across people, assets, and rails, and SBI Group chairman and CEO Yoshitaka Kitao, who tied the investment to SBI’s broader push into an “on-chain economic zone.”

Stablecoin Neobank Fasset Hits $1B Valuation With SBI-Led $68M Series C