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May 20, 2026
Fasset has secured $51 million in Series B funding to expand its stablecoin-powered neobanking and Islamic finance infrastructure across global emerging markets.
Read more: EIB Returns to Pakistan With €160 Million Funding
Global banking and investment platform Fasset has secured $51 million in Series B funding to accelerate the expansion of its stablecoin-powered neobanking and Islamic finance infrastructure across emerging markets.
According to FinTech Futures, Profit by Pakistan Today, and Fasset Press Release, the funding round ranks among the largest Series B raises in the global fintech sector this year and included participation from SBI Group, Investcorp, Arz Portföy, and strategic family offices.
Headquartered in Los Angeles, Fasset plans to use the capital to expand regulated financial infrastructure across its existing 50-plus banking corridors and enter new markets across Asia, Africa, and the Americas.
The company currently operates in the UAE, Bahrain, Indonesia, Malaysia, Pakistan, Türkiye, and the United States, offering blockchain-powered banking services focused on underserved and unbanked populations.
Fasset said it now records over $32 billion in annualised transaction volume and serves more than two million wallets across 125 countries, alongside over 1,000 SME clients globally.
The company recently partnered with Tether to launch what it describes as the world’s first gold-backed neobanking card and ATM infrastructure, further strengthening its push into tokenised and asset-backed financial services.
“We are building Fasset for a world where money moves as easily across borders as information does,” said Mohammad Raafi Hossain, CEO and Co-Founder of Fasset. He added that the funding would strengthen the company’s ability to build regulated banking services and expand into markets where accessible financial infrastructure is needed most.
According to the company, the Series B funding will also support development of lending, SME banking, and trade finance products, while expanding its proprietary “Own Network” infrastructure that connects banks, payment firms, telecom operators, and financial institutions across emerging markets.
Fasset’s expansion strategy remains focused on a regulation-first approach, with the company holding approvals across multiple jurisdictions including the UAE, Indonesia, the EU, Türkiye, Pakistan, and Malaysia.
