Woofun AI reports that stablecoin neobanking platform Fasset secured a $68 million Series C round led by Japan's SBI Group, establishing a $1 billion valuation. This capital injection marks a significant milestone for the firm, which has rapidly scaled its funding profile over the past few months.

The latest round brings Fasset's total 2026 funding to $119 million, following a $51 million Series B completed in May. Per Woofun AI, SBI Holdings confirmed an additional investment after its initial May entry, though the specific size of this latest tranche was not disclosed. SBI intends to increase its stake via warrant exercises post-closing, positioning Fasset to become an equity-method affiliate. The deal structure was finalized on Monday, aligning both parties for deeper integration.

Strategically, the partnership extends beyond capital, with plans to jointly operate a digital bank in Malaysia and distribute Fasset-issued tokens. The new funds will primarily expand Own Network, infrastructure connecting banks, payment companies, liquidity providers, and financial institutions across more than 100 banking corridors.

Additionally, Fasset will boost investment in artificial intelligence systems designed for stablecoin settlement, tokenization, and cross-border banking operations.

The deployment of new capital underscores a shift toward institutional-grade infrastructure for global payments. By integrating with banks and liquidity providers, Fasset aims to streamline cross-border transactions through its expanding network. This move signals a broader trend of traditional financial groups embedding stablecoin technology into core banking services.