Fasset, a stablecoin-focused digital bank, said it has reached a $1 billion valuation. Including a $51 million round completed in May, the company said it has raised a total of $119 million so far this year.
Co-founder and CEO Mohammad Raafi Hossain also shared operating figures for the business. According to Hossain, Fasset’s annualized transaction volume has surpassed $40 billion, and the company now operates across 125 countries. He added that revenue grew about sixfold year over year over the past 12 months.
The company also said it has remained profitable for 12 straight months. Fasset did not disclose specific revenue or profit figures. The update was reported by Odaily in a 7x24 news brief.
Fasset, a stablecoin digital bank, said it has reached a $1 billion valuation. Including a $51 million financing round completed in May, the company said it has raised a total of $119 million this year.
Co-founder and CEO Mohammad Raafi Hossain said Fasset’s annualized transaction volume has exceeded $40 billion and that the business now covers 125 countries. He also said revenue grew by about 6x over the past year and that the company has been profitable for 12 consecutive months, though it did not disclose specific revenue or profit figures.
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