Stablecoin-driven digital bank Fasset has completed a $51 million Series B funding round, with significant backing from Japan's SBI Group, Investcorp, and Turkish asset management firm Arz Portföy. The Los Angeles-based company plans to use the funds to expand into new markets, develop loan and trade finance products, and enhance its stablecoin payment and custody infrastructure, "Own Network." Fasset currently serves over 1,000 SMEs across 125 countries, with an annualized transaction volume exceeding $32 billion. In other developments, Jane Street has significantly reduced its Bitcoin ETF holdings while increasing its positions in Ethereum ETFs and Galaxy Digital. Meanwhile, CME Group is set to launch the Nasdaq Crypto Index futures on June 8, pending regulatory approval. This will be the company's first market-cap-weighted futures contract, offering both micro and standard contract sizes to provide efficient capital allocation in top-market-cap cryptocurrencies.
Fasset Secures $51M in Series B Funding Led by SBI Group
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