Japan’s SBI Group and Bahrain-based alternative asset manager Investcorp have backed the $51-million Series B funding round of stablecoin-focused fintech platform Fasset, according to an announcement.
The round, which also included participation from Turkish asset manager Arz Portföy and several strategic family offices, is among the largest fintech fundraises globally this year, according to the Los Angeles-based company.
Fasset said the fresh capital will be used to expand its regulated banking and payments infrastructure across Asia, Africa, and the Americas while accelerating development of its proprietary “Own Network” platform.
The platform, it added, powers stablecoin payments and custody services across more than 50 banking corridors. The company operates across markets including the UAE, Bahrain, Indonesia, Malaysia, Pakistan, Türkiye, and the US.
“This funding round strengthens our ability to build regulated banking services and expand into new markets where our services are needed most,” said CEO and co-founder Mohammad Raafi Hossain.
The company said its expansion strategy is anchored on obtaining regulatory approvals across multiple jurisdictions, including the UAE, Indonesia, the European Union, Türkiye, Pakistan, and Malaysia.
Fasset currently processes more than $32 billion in annualised transaction volume and serves over 2 million wallets across 125 countries. The company also serves more than 1,000 SME clients globally, per the announcement.
It added that institutional usage on its platform grew tenfold in 2025 as demand increased for compliant stablecoin-based financial services, especially in markets where traditional banking infrastructure remains fragmented, expensive, or slow.
The fundraising also follows Fasset’s partnership with stablecoin issuer Tether to launch what it described as the world’s first gold-backed neobanking card and ATM infrastructure.
Founded by Hossain and Daniel Ahmed, Fasset has raised more than $78 million to date.
The deal adds to SBI Group’s growing portfolio of tokenised securities and stablecoin-based financial services. In March, the firm led a $50-million investment in blockchain infrastructure firm Startale Group.
Founded in 1999, SBI Group is a comprehensive internet financial group that operates a financial services business, centred on securities, banking, and insurance, as the pioneer of Internet-based financial services in Japan.
