Stablecoin Neobank Fasset Secures $51 Million in Series B Funding, Led by SBI Group and Others

Odaily Planet Daily News: The stablecoin neobank Fasset has announced the completion of a $51 million Series B funding round, led by SBI Group, Investcorp, and Arz Portföy. The project primarily operates a digital banking platform based on stablecoins and blockchain technology, aiming to provide payment, remittance, and trade finance services in emerging markets.

Currently, the platform operates across over 50 payment corridors in Asia, Africa, and the Middle East, processing an annualized transaction volume exceeding $32 billion and serving more than 1,000 small and medium-sized enterprises across 125 countries. Fasset plans to use the funds to enter new markets, develop loan and trade finance products, and expand its proprietary Own Network infrastructure.