Japan’s SBI leads $68M Fasset round at $1B valuation

Stablecoin neobanking platform Fasset has raised $68 million in a Series C funding round led by Japan’s SBI Group at a $1 billion valuation.The financing follows Fasset’s $51 million Series B in May and brings the company’s total funding raised in 2026 to $119 million, Fasset said Monday.SBI Holdings said Monday in a separate statement that it made an additional investment in Fasset after first investing in the company in May. The Japanese financial group did not disclose the size of its latest investment.SBI said it plans to increase its stake in Fasset through the exercise of warrants after the Series C round closes, with Fasset expected to become an equity-method affiliate of the group.The companies also plan to jointly operate a digital bank in Malaysia and distribute Fasset-issued tokens, according to SBI.Fasset said the new capital will be used to expand Own Network, its infrastructure connecting banks, payment companies, liquidity providers and other financial institutions across more than 100 banking corridors. It also plans to increase investment in artificial intelligence systems used for stablecoin settlement, tokenization and cross-border banking.Related: SBI acquires S...