Stablecoin fintech Fasset raises $68M led by Japan’s SBI Group

Stablecoin-based digital finance platform Fasset has raised $68 million in funding led by Japan’s SBI Group, CoinDesk reported. The company was valued at $1 billion. The financing came just three months after its $51 million Series B round in May, bringing Fasset’s total funding this year to $119 million. Fasset’s core infrastructure is OWN Network, its proprietary AI-integrated Ethereum layer-two network built on Arbitrum, where stablecoins act as the settlement layer in the backend when users move fiat currencies or assets, increasing speed and lowering fees.