Fasset raises $68 million Series C round

Fasset, a stablecoin and tokenised-asset platform based in the UAE, raised $68 million in a Series C round led by Japan's SBI Group, valuing the company at $1 billion and pushing it past unicorn status. The round follows a $51 million Series B in May, bringing Fasset's total funding raised in 2026 to $119 million and its lifetime total to more than $150 million.

Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset serves customers in more than 125 countries. The company said the new funding will expand its Own Network and fund AI-enabled systems for corridor banking, stablecoin settlement and tokenised assets.

The raise stands out against a year in which dozens of crypto firms have wound down or filed for bankruptcy, underscoring how unevenly capital is flowing within the sector.