Fasset Hits $1 Billion Valuation After $68 Million SBI-Led Funding Round

Stablecoin neobank Fasset has reached a $1 billion valuation after securing $68 million from investors in a round led by Japan’s SBI Group.

The financing lifts Fasset’s capital raised this year to $119 million, following a separate $51 million funding round in May.

Fasset CEO Mohammad Raafi Hossain said the company now handles more than $40 billion in annualized transaction volume and operates across 125 countries. Hossain added that revenue has grown sixfold year over year.

Source: Fasset