Fasset Secures $51M to Flood Emerging Markets With Crypto‑Powered Banking 🚀

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Stablecoin-powered neobank Fasset raises $51 million to expand across emerging marketsFinance

What to know:

  • Fasset raised $51 million to expand its stablecoin-powered banking platform, with backing from Japan’s SBI Group, Investcorp and Turkey’s Arz Portföy.
  • The Los Angeles-based startup uses stablecoins to move money across more than 50 payment corridors in Asia, Africa and the Middle East, processing over $32 billion in annualized volume for more than 1,000 small and medium-sized businesses in 125 countries.
  • Fasset said it plans to use the new funding to enter additional markets, build lending and trade finance products, and grow its proprietary “Own Network” infrastructure, as stablecoins gain traction for remittances and cross-border commerce.

Fasset, a digital bank, has secured $51 million in funding to grow its platform, which uses stablecoins to provide banking services. This move highlights a growing trend of fintech companies building financial services on blockchain technology rather than relying on traditional payment systems.

The Los Angeles-based company announced Thursday that it received a Series B funding round with participation from investors including SBI Group of Japan, Investcorp, and Arz Portföy, a Turkish asset manager. The company didn’t reveal how much the investment valued it.

This startup offers a banking and payment service that connects over 50 countries in Asia, Africa, and the Middle East. It uses digital currencies called stablecoins to send money internationally more quickly and affordably than traditional banks.

Fasset intends to use the new investment to launch in more countries, create loan and trade finance solutions for small businesses, and further develop its in-house system – called “Own Network” – for handling stablecoin payments and storage.

This company is one of many new financial technology firms and digital banks working to modernize financial services using blockchain technology and stablecoins (digital currencies pegged to the US dollar). A recent example is Slash, a business banking startup that raised $100 million, valuing the company at $1.4 billion. They are creating payment solutions based on stablecoins and have partnered with Stripe to launch a stablecoin designed to speed up payments and reduce costs for businesses operating internationally.

Stablecoins are quickly becoming a major part of the crypto world, and more people are using them to send money internationally, manage finances, and do business across borders. Those who support stablecoins believe they can lessen our reliance on traditional banking systems, which can be slow and costly when sending money, especially to and from developing countries. Blockchain-based payments offer a potentially faster and cheaper alternative.

Fasset reports that its platform now handles over $32 billion worth of transactions each year, serving more than 1,000 small and medium-sized businesses in 125 countries. Recently, they teamed up with Tether, the company behind USDT, to launch a new neobanking card backed by gold and linked to digital assets.

Fasset aims to make sending money internationally as simple as sharing information online, according to CEO and co-founder Mohammad Raafi Hossain. This new funding will help the company develop secure banking services and reach more countries where they can make a difference.

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2026-05-14 16:11