Dubai-based stablecoin neobanking platform Fasset raised $68 million in a Series C round led by Japan's SBI Group, pushing its valuation to $1 billion and making it a unicorn. The round, announced August 24, follows a $51 million Series B the company closed in May, bringing its total capital raised in 2026 alone to $119 million. Fasset's core product is what it calls Own Network: regulated financial infrastructure that connects banks, payment providers, and liquidity providers across more than 100 banking corridors, essentially plumbing that lets money move between different countries' banking systems using stablecoins as the settlement layer rather than traditional correspondent banking rails. The company says it already processes more than $40 billion in annualized transaction volume across 3 million-plus wallets and over 1,000 enterprise customers in 125 countries, so this raise is less about proving the concept and more about scaling infrastructure that is already handling real volume. Fasset plans to put the new capital into expanding Own Network's corridor coverage and into building AI-enabled systems for corridor banking, stablecoin settlement, and tokenized-asset management. For developers and fintech builders, this is a useful data point on where stablecoin infrastructure investment is concentrating: not primarily in consumer-facing wallets or exchanges, but in the unglamorous backend rails, compliance, settlement, and cross-border liquidity, that let regulated financial institutions actually use stablecoins without taking on unmanaged risk. It also reflects a broader trend of traditional financial institutions like SBI Group building direct positions in stablecoin infrastructure rather than just partnering with crypto-native firms, as total USD-pegged stablecoin supply has grown past $290 billion industry-wide.