Stablecoin-powered neobank Fasset raises $51 million to expand across emerging markets
Fasset, a stablecoin-powered neobank, raised $51 million to expand its services in emerging markets.Summary
Fasset, a Shariah-compliant digital bank, has secured $51 million in a Series B funding round to expand its stablecoin-powered banking platform. The funding, which included investors like SBI Group and Investcorp, will be used to enter new markets, develop lending and trade finance products for small businesses, and enhance its proprietary stablecoin infrastructure. Fasset operates a platform across Asia, Africa, and the Middle East, utilizing stablecoins for faster and cheaper cross-border transactions compared to traditional systems. The company processes over $32 billion in annualized transaction volume across 125 countries and serves over 1,000 SMEs. This expansion aligns with a broader trend of fintechs rebuilding financial services on blockchain and stablecoin rails.
(Source：CoinDesk)