Stablecoin New Bank Fasset Completes $51 Million Series B Funding Round, SBI Group and Others Participate

May 14th News, stablecoin-driven neobank Fasset has completed a $51 million Series B funding round, with participation from Japan's SBI Group, Investcorp, and Turkish asset management company Arz Portföy. The specific valuation was not disclosed. Fasset stated that the new funds will be used to expand into more markets, develop loan and trade finance products for SMEs, and scale its stablecoin payment and custody infrastructure "Own Network." Headquartered in Los Angeles, Fasset currently operates across more than 50 payment corridors in Asia, Africa, and the Middle East, utilizing stablecoins for cross-border transfers. The company claims its platform reaches 125 countries, serves over 1,000 SMEs, and processes an annualized transaction volume exceeding $32 billion. Additionally, Fasset previously partnered with Tether to launch a gold-backed neobank card product linked to tokenized assets.