Dubai – Sharikat Mubasher: Fasset, a Dubai-based AI-powered stablecoin neobanking platform, announced it has raised $68 million in a Series C funding round at a valuation of $1 billion, marking its entry into the global fintech unicorn club.

As per a recent press release, the round was led by Japan’s SBI Group, following Fasset’s $51 million Series B earlier this year. The latest financing brings the company’s total funding raised in 2026 to $119 million.

Fasset said it will use the new capital to expand Own Network, its regulated financial infrastructure connecting banks, telecommunications companies, payment providers and liquidity partners across international markets. The company will also invest in AI-powered systems for cross-border banking, stablecoin settlement and tokenized assets.

Fasset currently processes more than $40 billion in annualized transaction volume and serves over 3 million wallets across 125 countries, alongside more than 1,000 enterprises.

The company said its network spans more than 100 banking corridors, using stablecoins in parts of its infrastructure to facilitate cross-border settlement.

The investment also strengthens Fasset’s relationship with SBI Group, which has previously partnered with the company on international remittance services.