SBI Holdings has completed a strategic investment in Fasset, a global stablecoin payments and cryptocurrency trading platform, targeting May 2026 implementation. The investment was announced on June 18 (UTC+8) and represents SBI Group's commitment to expanding its digital asset capabilities. Simultaneously, SBI Remit, Japan's top remittance provider, has signed a Memorandum of Understanding (MoU) with Fasset to jointly build a next-generation international remittance infrastructure based on stablecoin technology. This collaboration aims to transform the global payment landscape by merging SBI Remit's established remittance infrastructure with Fasset's expanding digital framework, prioritizing the development of stablecoin-enabled payment systems designed to accelerate settlement times, lower transaction costs, and enhance transparency in cross-border transactions.
Fasset's proprietary payment network, Own Network, currently serves over 200 million users across 125 countries and regions, significantly expanding the partnership's global reach beyond SBI Remit's existing network. The platform handles more than $32 billion in annualized transaction volume and supports over two million wallets. SBI Remit has processed more than JP¥2.5 trillion in cumulative transactions since its launch and maintains a payout network reaching more than 200 countries and territories through partners including MoneyGram, Tranglo, banks, and regional payment providers. The integration of SBI Remit's distribution network with Fasset's Own Network offers a sophisticated infrastructure that encompasses over 50 banking corridors and spans 16 blockchain networks, providing extensive global coverage for the new stablecoin infrastructure.
The partnership extends beyond simple remittances, launching an array of financial products that include stablecoin-based debit cards, cash-to-agent services, and wallet integration. These offerings are expected to support everyday financial activities ranging from payments to investments, ensuring that both consumers and businesses can manage their transactions efficiently. The collaboration will support cash-to-agent payment corridors in addition to blockchain-based transfers, with potential applications including AI assistants managing salary transfers and automating financial tasks for households and businesses operating across multiple countries. The agreement covers future products tied to stablecoins, including debit card programs, digital wallet services, and other consumer and business payment tools that can be automated seamlessly through artificial intelligence systems.
In the same month as the SBI partnership announcement, Fasset completed a $51 million Series B funding round with strategic investors including the SBI Group, Bahrain-based asset manager Investcorp, and Turkey's Arz Portföy. This funding round demonstrates strong institutional confidence in Fasset's business model and growth potential. As a digital bank focused on markets in Asia, the Middle East, and Africa, Fasset offers stablecoin settlement, remittance, and investment services through its proprietary payment network, positioning the company as a leading digital asset platform in the region. The company recently raised $51 million in Series B funding, with investors including SBI Group, Investcorp, and Arz Portföy, supporting a planned network upgrade to improve cross-border payments.
The SBI-Fasset partnership aligns with broader regional cryptocurrency development initiatives, as Binance founder Zhao Changpeng recently suggested promoting stock tokenization and local stablecoin issuance during discussions with governments of multiple Asian countries. According to Zhao's posts on the X platform, he is meeting with several national leaders and regulatory agencies in Asia to promote the development of the cryptocurrency sector, with good progress being made. The advocacy emphasizes that countries should promote the tokenization of real-world assets such as stocks to allow global investors to participate in trading, while simultaneously issuing their own stablecoins to expand the use of local currencies on the blockchain. This regional focus supports the SBI Group's expansion into digital asset capabilities across Asian markets.
