Breaking: Ripple Ally SBI Holdings Invests In UAE Stablecoin Payments Firm At $1B Valuation
Highlights
- SBI Holdings just made an additional investment in UAE-based Fasset at a $1 billion valuation.
- Ripple ally SBI Holdings plans to make Fasset an equity-method affiliate after its Series C funding round.
- SBI and Fasset will jointly run a digital bank in Malaysia and develop financial services based on stablecoins.
Ripple affiliate SBI Holdings has made an additional investment in Fasset, which is a stablecoin payments firm based in the UAE. The latest injection comes after the previous strategic investment in the company in May 2026. Further, this deal values Fasset at $1 billion based on the share acquisition price.
A Look At Ripple-Backed SBI Holdings & Fasset’s Latest Deal
For context, Japan’s SBI Holdings is a key partner of Ripple and has a long history of working with the blockchain firm. Its latest Fasset investment spotlights the SBI Group’s critical focus on digital-asset financial services and cross-border payments.
Meanwhile, Fasset offers remittance, payment and investment services based on stablecoins to Asia, the Middle East and Africa. Its funds system links up various blockchain networks to banking corridors throughout international markets. Moreover, the company also provides thousands of wallets in over 100 countries and regions.
With the new investment, the Ripple affiliate is looking to strengthen its partnership with Fasset. SBI Holdings is also planning to convert Fasset into an equity-method affiliate following the completion of its Series C funding round through warrant exercises.
The two companies are also in talks to launch a digital bank in Malaysia. They will share the tokens Fasset issues. Moreover, Ripple-backed SBI Group subsidiary SBI Remit has already signed up with Fasset for next-generation global remittance infrastructure.
What Do Officials Say?
SBI Holdings Chairman and President Yoshitaka Kitao said Fasset’s vision “aligns with the direction that the SBI Group is aiming to realize through digital finance.” He also described Fasset as a potential “financial bridge connecting Japan and high-growth markets around the world.”
Moreover, Fasset CEO and Co-Founder Mohammad Raafi Hossain said SBI leading the funding round has “great significance to Fasset.” He then added that both companies share a common belief that “finance must create tangible value for the people and communities it serves.”
The Ripple partner also stated that the partnership will bring together SBI’s financial services expertise and Fasset’s stablecoin infrastructure. With this, the companies are aiming at areas where traditional banking is not accessible.
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