The Shariah-compliant neobank will use funds to expand lending and trade finance products across Asia, Africa, and the Middle East.
Fasset, a stablecoin-powered neobank, raised $51 million in a Series B round led by Japan’s SBI Group, Investcorp, and Turkey’s Arz Portföy. The funding will support expansion into new markets and development of lending and trade finance products.
The Los Angeles-based startup processes over $32 billion in annualized volume across 50 payment corridors, serving 1,000+ small and medium-sized businesses in 125 countries. Its proprietary “Own Network” infrastructure leverages stablecoins for cross-border remittances and commerce.
Fasset’s growth reflects increasing adoption of blockchain-based financial services in emerging markets, where traditional banking infrastructure remains limited.