The Stablecoin Bank Nobody Saw Coming Just Hit $1 Billion Valuation With SBI’s Backing

Fasset, a stablecoin neobank, raised $68 million led by Japan's SBI Group, reaching a $1 billion valuation. The company processes over $40 billion in annualized transaction volume across 125 countries. Revenue grew six-fold year over year, with profitability for 12 consecutive months. Fasset operates on OWN Network, a proprietary Ethereum Layer 2 solution.