According to CoinDesk, Los Angeles-based stablecoin-driven digital bank Fasset has completed a $510 million Series B funding round, with investors including Japan’s SBI Group, Investcorp, and Turkey’s Arz Portföy. The valuation for this round was not disclosed. Fasset enables over 50 payment corridors across Asia, Africa, and the Middle East through stablecoin technology, serving more than 1,000 small and medium-sized enterprises in 125 countries with annualized transaction volumes of $32 billion. The funds will be used to expand into new markets, develop lending and trade finance products, and scale its stablecoin payment and custody infrastructure, “Own Network.” Fasset recently partnered with Tether to launch a gold-backed digital debit card.
Fasset Completes $51M Series B Funding to Expand Markets
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Summary
Fasset, a Los Angeles-based digital asset news provider, has closed a $51 million Series B funding round led by SBI Group, Investcorp, and Arz Portföy. The company serves over 1,000 SMEs across 125 countries with an annualized transaction volume of $32 billion. The funds will be used to expand into new markets, develop loan and trade financing tools, and scale its stablecoin infrastructure, Own Network. This funding announcement follows a recent partnership with Tether to launch a gold-backed digital debit card.
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