Fasset, a stablecoin neobank, has raised US$51Mn in a Series B round backed by Japan's SBI Group, Bahrain-headquartered Investcorp, Istanbul-based asset manager Arz Portföy, and several strategic family offices. According to Dealroom, the round ranks among the top ten fintech Series B fundraises globally in 2026.

The company was co-founded by Mohammad Raafi Hossain, a Bangladeshi-born entrepreneur, and operates a Shariah-compliant banking and payments platform spanning more than 50 corridors across Asia, Africa, and the Middle East. Fasset holds regulatory licenses across the UAE, Indonesia, Malaysia, Pakistan, Turkey, the EU, and the U.S., positioning it among a small group of emerging market fintechs with multi-jurisdictional regulatory coverage.

The platform processes over US$32Bn in annualized transaction volume across 125 countries, serving over 1,000 small and medium-sized businesses—from freelancers in Karachi to small business owners in Jakarta and entrepreneurs moving between Dhaka, Istanbul, and Kuala Lumpur. The company's institutional user base grew tenfold in 2025. Fasset recently partnered with Tether to launch a gold-backed neobanking card tied to tokenized assets.

The fresh capital will accelerate Fasset's Own Network—an AI-enabled financial infrastructure layer connecting banks, payment companies, telcos, and financial institutions across the Morocco-to-Malaysia corridor—while funding expansion into new markets across Asia, Africa, and the Americas, alongside lending and trade finance products for small businesses. Global fiat-backed stablecoin supply surpassed US$273Bn by March 2026, growing roughly 40 times from US$6.8Bn in early 2020, as the asset class gains traction for cross-border remittances and SME payments across underserved emerging markets.