Fasset, the global banking and investment platform with headquarters in Los Angeles, California, announced the close of a US$51M funding round, effectively marking it as the largest Series B fundraise globally in the payments sector and top ten in the fintech space for 2026.
Participants in the round included The SBI Group, Arz Portföy, Investcorp, and a group of strategic family offices, with the landmark funding aptly timed as central banks race to upgrade global money movement rails through tokenization and blockchain technologies. Fasset’s end-to-end ownership of the full financial stack, spanning regulatory licenses, liquidity provision, and core technology infrastructure, forms an integrated foundation for delivering stablecoin-powered financial services across markets.
Grounded in the commitment to democratize access to interest-free, asset-backed finance, Fasset will leverage Series B capital to accelerate development of regulated, full-service financial infrastructure across its existing 50+ local banking corridors. The company will expand into new global markets across Asia, Africa, and the Americas, building on its existing presence with teams in the UAE, Bahrain, Indonesia, Malaysia, Pakistan, Türkiye and the U.S. This is reflected in a recent expansion of its U.S. office to nurture executive talent. Fasset will also grow its retail, business, and private banking headcount by threefold. Lastly, new business lines focused on lending, SME banking, and trade finance products are in development.
Fasset’s Shift to Full-Stack Finance
Fasset’s growth trajectory has been shaped by heightened adoption and transaction velocity. The platform now records over US$32B in annualized transaction volume, serving more than 2 million wallets across 125 countries and over 1,000 SME clients globally — solidifying their position as one of the largest players in stablecoin neobanking, according to transaction volumes. Its recent partnership with Tether, creator of the industry’s largest stablecoin, to launch the world’s first gold-backed neobanking card is testament to the company’s unrelenting commitment to financial innovation. This scale is supported by Fasset’s AI-powered platform, designed to optimize transaction flows and risk management. Alongside an institutional user base that has grown tenfold in 2025, Fasset’s seismic rise reflects robust demand for compliant, stablecoin-based financial services in markets where traditional banking infrastructure remains fragmented or costly.
As part of efforts to broaden its bank service offerings, Fasset plans to deepen the provision of working capital for SMEs and enable trade financing. By pairing regulated banking frameworks with stablecoin settlement, Fasset reduces funding friction and unlocks faster liquidity for cross-border businesses.
Building the Future of Banking on Regulatory-First Rails with Own Network
Fasset’s expansion strategy is anchored in a regulation-first approach. The company holds regulatory approvals across multiple jurisdictions, including the UAE, Indonesia, the EU, Türkiye, Pakistan, and Malaysia. This effectively broadened Fasset’s remit from financial superapp to full-service, stablecoin-powered Islamic banking, allowing the platform to serve its growing global user base through a coordinated licensed banking framework.
As Fasset continues to expand its footprint, the Series B funding will support the development of additional banking licenses, compliance and risk frameworks, and Own Network, Fasset’s proprietary regulatory and financial infrastructure powering seamless stablecoin payments and custody across the Asia-Africa corridor.
“We are building Fasset for a world where money moves as easily across borders as information does,” said Mohammad Raafi Hossain, CEO and Co-Founder of Fasset. “This funding round strengthens our ability to build regulated banking services and expand into new markets where our services are needed most. The Series B provides tangible opportunities to support real-world economic activity, from everyday consumers to SMEs and global trade, on infrastructure that our users can trust.”
The SBI Group is one of Japan’s leading comprehensive financial groups, since its establishment in 1999, operating across a wide range of businesses including Financial Services, PE Investment, Asset Management, Crypto-assets, and Next Gen. Istanbul-based Arz Portföy is a prominent asset management firm specializing in high-growth venture capital. Bahrain-based Investcorp is a global asset manager with approximately $60 billion in assets under management, focused on connecting Gulf capital with global opportunities. Alongside participation from family offices, the Series B funding validates Fasset’s ambitious vision, market leadership, and strategic playbook to scale stablecoin-powered Islamic finance to new heights.