Fasset raises $51M to bring stablecoin banking to emerging markets — $32B in annualized volume and counting!

Stablecoin-powered neobank Fasset has closed a $51 million Series B to accelerate its push into Asia, Africa and the Middle East, with backing from Japan's SBI Group, Investcorp and Turkish asset manager Arz Portföy. The Los Angeles-headquartered company already processes more than $32 billion in annualized transaction volume across 125 countries, serving over 1,000 small and medium-sized businesses through more than 50 cross-border payment corridors.

Fasset uses dollar-backed stablecoins to move money faster and cheaper than correspondent banking networks — a structural advantage that resonates in emerging markets where traditional cross-border transfers are slow and costly. New funding will go toward expanding into additional markets, building lending and trade finance products for SMBs, and scaling its proprietary 'Own Network' stablecoin payments and custody infrastructure.

The…