The stablecoin digital bank Fasset, valued at $1 billion, has completed a $68 million funding round with leading investment from Japan's SBI Group.

BlockBeats News, August 24th. Stablecoin digital bank Fasset announced the completion of a $68 million financing round led by Japan's SBI Group, valuing the company at $1 billion. In addition to the $51 million financing round completed in May, Fasset has raised a total of $119 million this year.

Fasset's co-founder and CEO, Mohammad Raafi Hossain, stated that the company's annualized transaction volume has exceeded $40 billion, covering 125 countries. The company's revenue in the past year has increased by about 6 times year-on-year, achieving profitability for 12 consecutive months. However, specific revenue and profits were not disclosed. (CoinDesk)