Los Angeles-based Fasset, a financial platform that lets consumers and businesses hold, send, spend, and invest across currencies and assets using stablecoins as part of its settlement infrastructure, said on Aug. 24 that it raised US$68 million in a round led by Japan’s SBI Group, valuing the company at US$1 billion.

The funding follows Fasset’s US$51 million round in May, bringing the company’s total funding this year to US$119 million.

Fasset said the new capital will go toward expanding its Own Network infrastructure and AI systems, while strengthening ties with SBI.

Chief executive Mohammad Raafi Hossain said Fasset already works with SBI Remit, giving it access to a remittance network spanning about 470,000 locations and bank-account transfers to about 200 countries.

The investment also comes as Japan has a legal framework for stablecoins, helping explain interest from financial firms exploring remittance use cases.

🔗 Source: CoinDesk

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