Ah, behold Fasset, a neobank of stablecoin fame, serving 125 realms with monetary game! ‘Tis $51 million they’ve raised, backed by Japan’s SBI Group and Investcorp, no less. A sum so grand, it leaves one in jest!
- In this Series B farce, Turkish asset manager Arz Portföy joins the troupe, funding new markets, lending schemes, and the grand Own Network infrastructure. A comedy of financial ambition, indeed!
- Lo, Fasset processes $32 billion in annualized volume, across 50 payment corridors in Asia, Africa, and the Middle East. A feat so grand, it borders on the absurd!
- This raise, a mirror to the growing hunger of institutions for blockchain-native platforms, targeting the underserved with a wink and a nod.
Fasset, a Los Angeles-bred digital banking platform, doth use stablecoin rails to shuttle money across borders for the modest and middling businesses, bypassing the ancient correspondent banking networks. A modern jest, if ever there was one!
On May 14, they proclaimed their Series B, with SBI Group, Investcorp, and Arz Portföy as their merry investors. Serving over 1,000 business patrons in 125 lands, they frolic in South Asia, Southeast Asia, Africa, and the Middle East.
“We craft Fasset for a world where money flows as freely as gossip,” quoth Mohammad Raafi Hossain, CEO and co-founder of this financial theater. “This funding strengthens our hand to build regulated banking services and expand into new markets, where our antics are most needed.”
How Fasset Joins the Stablecoin Payments Farce
This raise arrives as institutional interest in stablecoin payment infrastructure reaches a comical peak. Coinbase analysts proclaim stablecoins’ growing role in delivery-versus-payment structures, as regulatory frameworks mature by 2026. The global fiat-backed stablecoin supply, a whopping $273 billion by March 2026, hath grown 40-fold from $6.8 billion in early 2020. A financial balloon, ripe for popping!
Yet, observers warn of the neobanks’ plight, built on stablecoin rails, facing margin compression as near-zero transfer costs make fee-based revenues a laughable endeavor. Fasset’s leap into lending and trade finance follows the neobank script, expanding into higher-margin products after establishing a payments base. A predictable twist in this financial comedy!
Dragonfly Capital’s Haseeb Qureshi foretells stablecoins reshaping SMB payments, making cross-border settlement faster and cheaper than traditional banking. Fasset, with its Shariah-compliant model, aligns with the whims of the Gulf, Pakistan, and Indonesia. A strategic jest, if ever there was one!
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2026-05-14 21:43