Svmuu reported that stablecoin neobank Fasset has announced the completion of a $51 million Series B funding round, led by SBI Group, Investcorp, and Arz Portföy. The project primarily operates a digital banking platform based on stablecoins and blockchain technology, aiming to provide payment, remittance, and trade finance services for emerging markets.
Currently, the platform operates across more than 50 payment corridors in Asia, Africa, and the Middle East, with an annualized transaction volume exceeding $32 billion, serving over 1,000 small and medium-sized enterprises across 125 countries. Fasset plans to use the funds to enter new markets, develop lending and trade finance products, and expand its proprietary Own Network infrastructure.