According to ChainCatcher, citing CoinDesk, the new stablecoin bank Fasset has raised $680 million in funding led by SBI Group, achieving a $1 billion valuation. The company reports annualized transaction volume exceeding $40 billion, operations in 125 countries, revenue growth of approximately sixfold year-over-year, and has been profitable for 12 consecutive months. Fasset has built its proprietary Layer 2 network, OWN, on Arbitrum to provide cross-border payment services for institutional and individual clients using stablecoin settlements, and has partnered with SBI Remit to integrate with its remittance network spanning 200 countries.
Fasset Completes $68M Funding at a $10B Valuation, Led by SBI Group
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Summary
Fasset secures $68 million in project funding, reaching a $10 billion valuation led by SBI Group. The stablecoin neobank processes over $40 billion in annualized transactions across 125 countries, with revenue up sixfold year-over-year and 12 months of profitability. Built on Arbitrum’s Layer 2 network, OWN enables cross-border stablecoin settlements. A recent network upgrade enhances throughput for institutions and individuals. Fasset also partners with SBI Remit to expand remittance access to 200 countries.
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