Fasset, a Los Angeles-based digital banking platform operating on stablecoin rails, has secured $51 million in a Series B funding round. The investment, reported on May 14, 2026, draws backing from Japan’s SBI Group, global alternative investment firm Investcorp, and Turkish asset manager Arz Portföy. While the company’s valuation remains undisclosed, the capital is earmarked to accelerate deployment of its stablecoin-based banking services across emerging markets.
Fasset’s platform leverages stablecoins—cryptocurrencies pegged to assets like the US dollar—to facilitate payments, lending, and cross-border transfers for small and medium-sized businesses. The company serves over 1,000 business customers in 125 countries, primarily in South Asia, Southeast Asia, Africa, and the Middle East, processing more than $32 billion in annualized volume through over 50 payment corridors.
“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. “This funding round strengthens our ability to build regulated banking services and expand into new markets where our services are needed most.”
The raise comes amid surging institutional interest in stablecoin payment infrastructure. The global supply of fiat-backed stablecoins surpassed $273 billion by March 2026, and regulators are developing clearer frameworks. Fasset’s Shariah-compliant model aligns it with key markets in the Gulf, Pakistan, and Indonesia. The company plans to use the fresh funds to enter new markets, introduce lending products, and build out its Own Network infrastructure, following a path typical of neobanks that expand into higher-margin offerings after establishing a payments base.
