Fasset, the Dubai-based stablecoin-banking fintech, has closed a USD 51 million Series B funding round backed by SBI Group, Investcorp and Arz Portföy. The company announced the round on 15 May 2026.
The proceeds will be used to accelerate the build-out of Fasset's Own Network, an AI-enabled financial infrastructure layer that connects banks, payment companies, telecommunications operators and on- and off-ramp partners across emerging markets.
SBI AND INVESTCORP JOIN THE CAP TABLE
The Series B brings a set of investors with complementary geographic reach. SBI Group, the Japanese financial services and investment conglomerate, has been an active backer of blockchain and payments infrastructure businesses, particularly those with cross-border ambitions. Investcorp, the alternative asset manager with strong roots in the Gulf, adds regional presence and a track record of scaling financial services companies.
The addition of Turkish asset manager Arz Portföy to the syndicate reflects Fasset's corridor focus, which the company said spans from Morocco to Malaysia. That geographic sweep captures a range of emerging markets where local currency payments, remittances and digital-asset use cases increasingly overlap.
For a company positioning itself at the intersection of stablecoins and traditional banking rails, the mix of backers is significant. Combining a global fintech investor, a Gulf alternative asset manager and a regional Turkish financial group signals that Fasset intends to build partnerships along the corridors in which its infrastructure is designed to operate.
OWN NETWORK TARGETS EMERGING MARKETS
At the centre of the funding narrative is Fasset's Own Network, described by the company as an AI-enabled financial infrastructure layer that stitches together the different actors involved in moving value across borders. By connecting banks, payment firms, telcos and on-ramp partners into a single interoperable network, Fasset aims to reduce friction in emerging-market payments and give users access to stablecoin-based services alongside conventional banking products.
The company said the effort is aimed at improving financial access across emerging markets, where legacy correspondent banking arrangements can be slow, costly or unavailable. Stablecoin-based rails have emerged as a competitive alternative in several of these corridors, particularly for cross-border settlement between businesses and for remittance flows into economies with volatile local currencies.
Building that infrastructure at scale is capital-intensive. Compliance, licensing and integration work with banks and telecom operators in multiple jurisdictions require sustained investment before revenue ramps meaningfully. The USD 51 million round gives Fasset a runway to expand across its target corridor without needing to return to the market imminently.
The company was founded to provide stablecoin-linked banking services to consumers and businesses in emerging markets. Its expansion strategy relies on securing local partnerships and licences in each corridor market, an approach that dovetails with the multi-jurisdictional investor base it has now assembled.
By closing a USD 51 million Series B with a syndicate that combines Japanese, Gulf and Turkish investors, Fasset has secured both funding and strategic proximity to markets that sit along its stated corridors. The details of the round were set out by the company in a post on its own website on the day of the announcement, alongside a summary of its infrastructure plans.
With the Own Network positioned as the centrepiece of its next phase, Fasset is betting that a purpose-built infrastructure layer connecting banks, payment companies, telcos and on- and off-ramp partners will find sustained demand as stablecoin-based settlement grows within its target corridors. Delivering on that vision will require methodical execution across a demanding set of jurisdictions from Morocco to Malaysia.