Fasset raises $68 million in funding round led by Japan’s SBI Group at $1 billion valuation

Fasset secures $68 million in Series C funding round

Fasset, a company that provides a digital banking platform using stablecoins (a type of cryptocurrency designed to keep a steady value), has raised $68 million in a Series C funding round. The round was led by Japan’s SBI Group, a major financial services company. This funding values Fasset at $1 billion.

The investment comes after Fasset’s $51 million Series B round in May 2026. With this new funding, Fasset’s total capital raised in 2026 reaches $119 million.

Key details of the funding round

• Fasset’s valuation reaches $1 billion after the Series C round.
• SBI Group led the funding and plans to increase its stake in Fasset.
• Fasset will use the funds to expand its payment network and invest in artificial intelligence for stablecoin transactions.
• The companies plan to launch a digital bank in Malaysia together.

SBI Group’s investment and plans

SBI Group announced it made an additional investment in Fasset after first investing in the company in May 2026. The exact amount of this latest investment was not disclosed. SBI Group plans to increase its ownership in Fasset by exercising warrants after the Series C round closes. This could make Fasset an equity-method affiliate of SBI Group, meaning SBI would have significant influence over Fasset’s operations.

SBI Group and Fasset also plan to jointly operate a digital bank in Malaysia. They will distribute tokens issued by Fasset, which are digital assets used for transactions on its platform.

How Fasset will use the new funding

Fasset stated the $68 million will be used to expand Own Network, its infrastructure that connects banks, payment companies, and other financial institutions across more than 100 banking corridors. This network helps facilitate cross-border transactions and stablecoin payments.

The company also plans to invest more in artificial intelligence systems. These systems are used for stablecoin settlement, tokenization (converting assets into digital tokens), and cross-border banking services.

What is confirmed

• Fasset raised $68 million in a Series C funding round led by SBI Group.
• The funding values Fasset at $1 billion.
• SBI Group plans to increase its stake in Fasset and collaborate on a digital bank in Malaysia.
• Fasset will expand its payment network and AI systems for stablecoin transactions.

What is still unclear

• The exact amount of SBI Group’s latest investment in Fasset was not disclosed.
• No specific timeline was provided for the launch of the digital bank in Malaysia.

Why this funding round matters

This funding round shows growing interest from traditional financial institutions like SBI Group in digital banking and stablecoin technology. Fasset’s expansion plans could make cross-border payments faster and cheaper for users. The collaboration with SBI Group may also help Fasset enter new markets, starting with Malaysia.

Sources

• Cointelegraph
• Business Wire (Fasset announcement)
• SBI Group statement