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Daily Brief · Crypto · AI · FinTech

Fasset Hits Unicorn Status on a $68M SBI-Led Round, DBS and IBF Build an AI-Training Playbook for Singapore's Whole Finance Sector, and AFFIN Opens a Consumer Bridge Into Indonesia

Stablecoin neobank Fasset closed a $68 million Series C led by Japan's SBI Group at a $1 billion valuation, its second raise this year, to expand stablecoin settlement infrastructure across Asia Pacific. DBS and Singapore's Institute of Banking and Finance signed the industry body's first MoU with a bank to build shared AI-training programmes after DBS upskilled 40,000 staff globally. And AFFIN Bank and Indonesia's BCA launched a reciprocal cardholder-perks partnership as a first step toward joint Malaysia-Indonesia banking products.

August 24, 20264 min readSingapore · Malaysia · Indonesia · Stablecoins · AI · Cross-Border Payments
Photorealistic photograph of an anonymous trading floor at dusk in a Singapore financial district office tower, an analyst seen from directly behind at a multi-monitor desk and a second anonymous figure standing with their back to the camera against a glass window overlooking the skyline.
A trading floor at dusk, the kind of setting behind DBS's push to scale AI training across Singapore's finance sector this week.

Fasset Hits a $1 Billion Valuation on a $68 Million Round Led by SBI Group

Stablecoin neobank Fasset closed a $68 million Series C led by Japan's SBI Group, pushing its valuation to $1 billion and making it the latest crypto-adjacent firm to reach unicorn status. It's Fasset's second raise this year, following a $51 million Series B in May that included participation from Speedinvest, bringing its 2026 total to roughly $119 million.

Fasset operates a stablecoin settlement network spanning more than 100 banking corridors and serving over three million wallets across 125 countries, letting customers receive, hold, transfer, spend and invest across multiple currencies and asset classes. The new funding is earmarked for expanding that settlement infrastructure across Asia Pacific, the Middle East and Africa, alongside a partnership with SBI Remit that adds bank-transfer access across roughly 200 countries.

Sources

DBS and Singapore's IBF Sign the Institute's First AI-Training MoU With a Bank

DBS Bank and the Institute of Banking and Finance Singapore (IBF) signed a Memorandum of Understanding to build shared AI-skills training for the wider financial sector — IBF's first such agreement with a single financial institution. DBS has already trained 40,000 employees globally on AI, including 14,800 in Singapore, and upskilled more than 11,000 staff whose roles were significantly reshaped by AI tools.

The partnership will develop IBF-recognised programmes covering AI governance, responsible AI practices, prompt engineering and practical finance applications, and will pilot workforce initiatives from IBF's Job Redesign and Reskilling Career Conversion Programme for employees moving into redesigned roles. DBS also plans to bring in more than 500 young people in Singapore this year through management associate, internship and traineeship programmes.

Sources

AFFIN and BCA Launch a Reciprocal Cardholder-Perks Partnership Between Malaysia and Indonesia

AFFIN Bank (Malaysia) and Indonesia's BCA signed a cross-promotion agreement effective August 20, giving cardholders on each side reciprocal access to discounts, complimentary gifts, upgrades and priority access to concerts, hotels, dining and selected merchants in the other country. AFFIN operates 145 branches across Malaysia; BCA is Indonesia's largest private bank, serving 42 million customer accounts through more than 1,270 branches and processing over 124 million transactions daily.

AFFIN's chief executive described the tie-up as "the beginning of a strategic collaboration, creating a virtual bridge between Malaysia and Indonesia," with plans for jointly developed products and services to follow.

Sources

Eyes on the Day Ahead

Nothing new is scheduled in the next 24-48 hours; looking further out, Techsauce Global Summit 2026 runs August 26-28 in Bangkok, worth watching for AI-infrastructure and digital-asset announcements from regional regulators and vendors attending.

Layer 7 Ventures is a research-driven firm focused on AI and cryptocurrency in Southeast Asia. Views expressed are those of the firm and do not constitute investment advice.

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