SBI Holdings has decided on an additional investment in Fasset after leading a $68 million Series C on Aug. 24 that values the stablecoin settlement and digital-bank platform at $1 billion, marking Fasset’s first unicorn status less than three months after its prior raise. The round lifts Fasset’s 2026 fundraising to $119 million after a $51 million Series B in May, with lifetime capital previously tallied near $146 million across seed through Series C and more recent coverage putting total funding past $150 million; early backer Speedinvest also joined the Series C. Fasset is set to become an equity-method affiliate of SBI through warrant exercises as the sides advance plans to jointly operate a digital bank in Malaysia and share tokens Fasset issues, building on a June basic agreement between SBI Remit and Fasset on next-generation international remittance infrastructure. The firm’s Own Network, described as a regulated Ethereum layer-2 built on Arbitrum technology linking banks, telecoms, payment firms and liquidity providers across more than 100 banking corridors, will be expanded with the proceeds alongside AI routing systems; Fasset reports more than 3 million wallets and over 1,000 enterprises in 125 countries, with annualized transaction volume above $40 billion after standing at $32 billion at the May financing. One of the first firms licensed by Dubai’s VARA in 2023, it holds approvals in Indonesia, Pakistan, Türkiye, Malaysia and the EU and has built Shariah-compliant products tied to stablecoins, gold, equities and sukuk. CEO Mohammad Raafi Hossain said revenue has grown roughly sixfold year over year and the firm has been profitable for 12 consecutive months, without disclosing figures. The bet is SBI’s third Series C lead since early July, after EDX Markets and Gauntlet, bringing the three commitments to roughly $269 million and extending a portfolio that already spans Ripple, Circle, Morpho and B2C2 into stablecoin settlement rails amid a wider payments shift in which stablecoins are competing with card networks and other fintech rails.