FassetStablecoin-powered neobank and digital-asset platform for emerging markets

Fasset operates a stablecoin-based neobanking platform for individuals, businesses and institutions, mainly in emerging markets across the Middle East, Asia and Africa. Users get multi-currency accounts, debit cards, cryptocurrency trading, tokenised real-world assets such as gold and stocks, and low-cost remittances. Its Own Network connects banks, telcos, payment providers and liquidity sources across more than 100 banking corridors. The company was founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed and holds a VARA virtual-asset licence in Dubai alongside regulated entities in Bahrain, Indonesia, Malaysia and other markets. It raised a $22M Series A (Apr 2022), a $51M Series B (May 2026) and a $68M Series C (Aug 2026) led by Japan's SBI Group, reaching a $1 billion valuation and more than $150 million in total funding. It reports $40B in annualised transaction volume, 3 million wallets and 1,000+ enterprise clients. Corporate domicile is outside the UAE; operating headquarters and VARA licence are in Dubai (dual-HQ footnote in reports).

SNAPSHOT