Fasset Secures $51 Million to Enhance Blockchain-Based Banking Platform and Expand Global Reach

Fasset Secures $51 Million to Revolutionize Banking with Stablecoins

Los Angeles, CA — In a bold move signaling the future of finance, digital bank Fasset has successfully raised $51 million in a Series B funding round aimed at expanding its innovative stablecoin-powered banking platform. The investment, announced on Thursday, attracted notable backers including Japan’s SBI Group, Investcorp, and Turkish asset manager Arz Portföy, although the company has opted not to disclose its valuation.

Fasset, headquartered in Los Angeles, is at the forefront of a financial revolution, operating a banking and payments platform that spans over 50 corridors across Asia, Africa, and the Middle East. By leveraging stablecoins, the company is able to facilitate faster and more cost-effective cross-border transactions compared to traditional banking systems.

The newly acquired funds will be instrumental in Fasset’s plans to penetrate new markets, develop lending and trade finance products tailored for small businesses, and enhance its proprietary infrastructure known as “Own Network,” which focuses on stablecoin payments and custody solutions.

This funding round is part of a larger trend among fintech firms and neobanks that are increasingly building financial services on blockchain technology rather than relying on conventional payment networks. For instance, business banking startup Slash recently raised $100 million, achieving a valuation of $1.4 billion, as it too develops stablecoin-based payment solutions.

Stablecoins, which are digital currencies pegged to traditional assets like the US dollar, have emerged as one of the fastest-growing sectors in the cryptocurrency landscape. They are increasingly viewed as viable alternatives for remittances, treasury management, and international commerce. Advocates argue that blockchain-based payments can significantly reduce reliance on correspondent banking networks, which often hinder cross-border transfers with delays and high costs—especially in emerging markets.

Fasset’s platform currently processes an impressive $32 billion in annualized transaction volume across 125 countries, serving over 1,000 small and medium-sized businesses. Recently, the company partnered with Tether, the issuer of USDT, to launch a gold-backed neobanking card linked to tokenized assets.

“We are building Fasset for a world where money moves as easily across borders as information does,” said Mohammad Raafi Hossain, CEO and co-founder of Fasset. “This funding round strengthens our ability to build regulated banking services and expand into new markets where our services are needed most.”

As Fasset continues to innovate and expand, it stands poised to reshape the landscape of global finance, making banking more accessible and efficient for businesses around the world.