SBI Group Backs Fasset's $68M Funding at Billion-Dollar Valuation
Japanese financial giant SBI Group has spearheaded a $68 million Series C investment in stablecoin neobanking platform Fasset, propelling the company to a $1 billion valuation.
In a significant funding milestone, stablecoin neobanking platform Fasset has successfully secured $68 million through a Series C investment round spearheaded by Japan's SBI Group, achieving a valuation of $1 billion.
The capital injection comes on the heels of Fasset's $51 million Series B round completed in May, pushing the company's aggregate capital raised throughout 2026 to $119 million, according to Fasset's announcement on Monday.
In a separate announcement released Monday, SBI Holdings confirmed that it has made another investment in Fasset, following its initial stake acquisition in the company during May. The Japanese financial conglomerate chose not to reveal the specific amount of its most recent investment.
According to SBI, the company intends to expand its ownership position in Fasset by exercising warrants following the completion of the Series C funding round, with expectations that Fasset will become an equity-method affiliate within the group's portfolio.
The partnership between the two companies includes plans for the joint operation of a digital banking institution in Malaysia and the distribution of tokens issued by Fasset, as outlined by SBI.
According to Fasset, the newly acquired funds will be deployed toward the expansion of Own Network, the company's infrastructure platform that links banks, payment service providers, liquidity providers and additional financial institutions spanning over 100 banking corridors. The company also intends to boost its investment in artificial intelligence systems utilized for stablecoin settlement operations, tokenization processes and cross-border banking services.