Stablecoin-Focused Fintech Fasset Completes $51M Series B Led by SBI Group and Investcorp

According to ChainCatcher, Los Angeles-based stablecoin-driven digital bank Fasset recently completed a $51 million Series B funding round. Investors include Japan's SBI Group, Investcorp, and Turkish asset manager Arz Portföy. The company serves over 1,000 small and medium-sized enterprises across 125 countries through stablecoin technology, covering more than 50 payment corridors in Asia, Africa, and the Middle East, with annual transaction volume exceeding $32 billion.

Fasset plans to use the funding to expand into new markets and develop lending and trade finance products, as well as scale its proprietary stablecoin payment and custody infrastructure, Own Network. The company recently partnered with Tether to launch a gold-backed digital banking card.