Fasset Raises $68 Million at $1 Billion Valuation, Led by SBI Group

Odaily News: Fasset, a stablecoin digital bank, has reached a valuation of $1 billion. Combined with the $51 million raised in May, the company has raised a total of $119 million this year. Mohammad Raafi Hossain, co-founder and CEO of Fasset, stated that the company's annualized transaction volume has exceeded $40 billion, with operations spanning 125 countries. Revenue over the past year has grown approximately 6-fold year-over-year, and the company has been profitable for 12 consecutive months, though specific revenue and profit figures were not disclosed.