SBI leads Fasset's $68 million Series C at $1 billion valuation

Fasset raised $68 million in Series C financing led by Japan's SBI Group. The round valued Fasset at $1 billion. Fasset raised $51 million in Series B financing in May. Fasset said its total funding raised in 2026 reached $119 million. SBI Holdings made an additional investment after first investing in Fasset in May. SBI Holdings did not disclose the size of its latest investment. SBI plans to increase its stake through warrant exercise after the Series C closes. Fasset is expected to become an equity-method affiliate of SBI. The companies plan to jointly operate a digital bank in Malaysia. They also plan to distribute Fasset-issued tokens. Fasset will use the new capital to expand Own Network across more than 100 banking corridors. The network connects banks, payment companies, liquidity providers and other financial institutions. Fasset also plans to increase investment in artificial intelligence systems for stablecoin settlement, tokenization and cross-border banking.