Fasset secures $51m Series B to grow neobanking infrastructure

By Aarav Garg

Fasset has secured $51 million in Series B funding to expand its stablecoin-powered neobanking and cross-border payments infrastructure.

The round included participation from SBI Group, Investcorp, Arz Portföy and a number of strategic family offices. The funding comes as financial institutions and regulators globally continue exploring tokenisation, blockchain-based settlement and stablecoin infrastructure to modernise international payments and liquidity flows.

“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.”Fasset said the capital will be used to expand its proprietary Own Network infrastructure, which supports stablecoin-enabled financial services across more than 50 banking corridors. The company also plans to expand further across Asia, Africa and the Americas, while growing its lending, SME banking and trade finance capabilities.

The development reflects broader momentum behind stablecoin-based financial services, particularly in regions where cross-border transactions remain costly or fragmented. FinTech firms are increasingly positioning stablecoins as a tool for faster settlement, lower transaction costs and improved access to financial services for businesses and consumers operating across multiple jurisdictions.

Fasset operates across several regulated markets including the UAE, Indonesia, Malaysia, Pakistan, Türkiye and parts of Europe. The company said its platform currently supports more than two million wallets across 125 countries and processes approximately $32 billion in annualised transaction volume.

The funding also follows Fasset’s recent partnership with Tether to develop a gold-backed neobanking card and ATM offering, highlighting growing experimentation around asset-backed digital finance products.

As competition intensifies across digital banking and payments infrastructure, firms are increasingly combining stablecoin settlement, embedded finance and regulatory compliance into full-stack financial platforms aimed at both retail users and SMEs.