Key facts
- SBI Holdings led a $68 million Series C funding round for Fasset.
- Fasset was valued at $1 billion in the funding round.
- SBI Holdings plans to increase its stake and make Fasset an equity-method affiliate.
- SBI Holdings and Fasset intend to launch a digital bank in Malaysia.
- Fasset will use the new capital to expand its infrastructure and AI systems.
Japan's SBI Holdings has led a $68 million Series C funding round for UAE-based stablecoin neobanking platform Fasset, valuing the company at $1 billion. This investment follows a previous strategic investment in May and brings Fasset's total funding in 2026 to $119 million. SBI Holdings plans to increase its stake and convert Fasset into an equity-method affiliate. The companies also intend to jointly operate a digital bank in Malaysia and distribute Fasset-issued tokens. Fasset will utilize the new capital to expand its 'Own Network' infrastructure, connecting financial institutions across over 100 banking corridors, and to invest further in AI systems for stablecoin settlement and cross-border banking. SBI Holdings Chairman Yoshitaka Kitao stated Fasset aligns with the group's digital finance objectives, while Fasset CEO Mohammad Raafi Hossain highlighted the potential to serve areas with limited traditional banking access.