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BlockBeats News, May 14th, Stablecoin-Powered Digital Bank Fasset announced the completion of a $51 million Series B funding round, with investors including Japan's SBI Group, Investcorp, and Turkish asset management company Arz Portföy. The valuation of this round was not disclosed.
Fasset covers more than 50 payment corridors in Asia, Africa, and the Middle East using stablecoin technology, serving over 1,000 SMEs in 125 countries with an annualized transaction volume exceeding $32 billion. The company plans to use this round of funding to expand into new markets, develop loan and trade finance products, and enhance its proprietary stablecoin payment and custody infrastructure, Own Network. Additionally, Fasset recently partnered with Tether, the issuer of USDT, to launch a gold-backed digital banking card.
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