Neobank Fasset hits $1B valuation with SBI backing

Stablecoin neobank Fasset raised $68 million in funding that lands it a $1 billion valuation, with SBI backing its payments push. CEO Mohammad Raafi Hossain said revenue has grown six-fold as stablecoin payments and settlement expand.

The raise signals continued institutional and corporate adoption of stablecoins for payments and cross-border settlement.