Stablecoin neobank Fasset raised $68M led by Japan's SBI Group at a $1B valuation, just three months after its $51M Series B and taking its 2026 funding to $119M.

Fasset says revenue is up roughly sixfold over the past year and it has been profitable for 12 straight months, processing more than $32B in annualized transaction volume across 125 countries and 50-plus payment corridors. CEO Mohammad Raafi Hossain framed the raise around scaling a compliant stablecoin bank rather than chasing growth at a loss.

The plan is to tap SBI's financial network to widen stablecoin payment rails across Japan, Asia and other emerging markets, where dollar access and cross-border transfers remain expensive and slow.

Hitting unicorn status on a profitable, revenue-generating base makes Fasset a rare stablecoin play that reads more like a fintech than a token bet, and hands SBI a direct lever into emerging-market payments.

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