Overview
- Fasset, which disclosed the Series B Thursday, raised $51 million to expand its stablecoin‑based bank for cross‑border business payments.
- The round drew backing from Japan’s SBI Group, Investcorp and Turkey’s Arz Portföy, with the company keeping its valuation private.
- Fasset said it will enter new countries, launch lending and trade‑finance products for small businesses, and grow its proprietary Own Network for payments and custody.
- The Shariah‑compliant platform reports about $32 billion in annualized volume across 125 countries and serves more than 1,000 SMBs through 50‑plus payment corridors in Asia, Africa and the Middle East.
- The company’s push tracks a broader shift to stablecoins for remittances and global trade, and follows a Tether partnership on a gold‑backed card that links spending to tokenized assets.