According to CoinMeta, as reported by Coindesk, the stablecoin bank Fasset has received a $68 million financing led by the SBI group, with a valuation of $1 billion. The platform has an annual trading volume of over $40 billion, covering 125 countries, and its revenue has increased by about six times year-on-year. It has been profitable for 12 consecutive months. Fasset is built on Arbitrum to create a proprietary Layer 2 network for both institutions and individuals, and it collaborates with SBI Remit to access their remittance network that covers 200 countries.