Stablecoin bank Fasset raises $68 million led by SBI Group, valuation reaches $1 billion

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Stablecoin bank Fasset raised $68 million led by SBI Group, reaching a $1 billion valuation. The company reported an annualized trading volume of $40 billion, a sixfold increase in revenue, and 12 consecutive months of profitability. Fasset operates in 125 countries and built its Layer 2 network, OWN, on Arbitrum for cross-border stablecoin settlement. Trends in the Fear and Greed Index indicate rising institutional interest in stablecoin infrastructure. The company partners with SBI Remit to provide remittance services across 200 countries.

ChainThink reports that on August 24, according to CoinDesk, the stablecoin neobank Fasset has completed a $680 million funding round led by SBI Group, valuing the company at $1 billion.

Fasset has an annual trading volume exceeding $40 billion, operates in 125 countries, achieved approximately sixfold year-over-year revenue growth, and has been profitable for 12 consecutive months.

The company has built a proprietary Layer 2 network, OWN, on Arbitrum to provide cross-border payment services with stablecoin settlement for institutions and individuals, and has partnered with SBI Remit to integrate with its remittance network covering 200 countries.

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