Fasset Raises $51 Million to Expand Stablecoin Banking Across 50 Payment Corridors
Updated
Updated · CoinDesk · May 14
Fasset Raises $51 Million to Expand Stablecoin Banking Across 50 Payment Corridors
1 articles · Updated · CoinDesk · May 14
$51 million in Series B funding will help Fasset push its stablecoin-powered banking platform into more emerging markets and add lending, trade finance and custody services.
Fasset says its network already moves money across more than 50 corridors in Asia, Africa and the Middle East, handling over $32 billion in annualized volume for 1,000-plus SMEs in 125 countries.
SBI Group, Investcorp and Arz Portföy backed the round, underscoring investor interest in fintechs using blockchain and dollar-backed stablecoins instead of traditional cross-border payment rails.
Stablecoins are gaining traction for remittances, treasury management and international commerce, especially in markets where correspondent banking remains slow and costly.
Beyond cheaper fees, can blockchain finance truly deliver the credit and insurance that legacy banks have long denied small businesses?
Fasset's model bypasses old banks, but does it just create new tech giants to control the global flow of money?
As stablecoins surge in emerging markets, how can nations protect their monetary sovereignty from this new wave of digital dollarization?
Fasset Raises $51M Series B to Drive Shariah-Compliant Stablecoin Banking Expansion in Emerging Markets
Overview
Fasset has secured $51 million in Series B funding, marking a pivotal moment as it prepares for ambitious global expansion. With growing investor confidence in its innovative approach, Fasset aims to accelerate its reach across emerging markets by offering stablecoin-powered neobanking services. The company’s core business model focuses on providing Shariah-compliant stablecoin banking, helping to bring modern and accessible financial solutions to regions with less developed financial infrastructure. By expanding its services, Fasset intends to solidify its position as a key player in digital finance and extend modern banking capabilities to a wider global audience.