Fasset has reached unicorn status after raising $68 million in a Series C funding round, marking a major milestone for the digital-asset fintech. The new funding gives Fasset a valuation of more than $1 billion and puts it among the increasingly prominent fintechs building infrastructure around digital assets. The round highlights continued investor appetite for companies operating at the intersection of fintech and crypto, even as funding conditions remain challenging across parts of the broader startup market. Reaching unicorn status also gives Fasset significantly more visibility as it looks to scale its platform and compete in an increasingly crowded digital-finance ecosystem. The deal is particularly notable against the backdrop of traditional financial institutions moving deeper into tokenization and blockchain-based products. Fasset’s milestone therefore reflects a broader shift in financial services, where crypto-native companies are increasingly building businesses designed to connect digital assets with mainstream finance.
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AI in Index in Banks - LATAM
1. Nubank and Itaú Unibanco lead a Brazilian top four
Brazil’s Nubank and Itaú Unibanco claim the top two spots in the Evident AI Index for Latin American banks, with Banco Bradesco and Banco de Brasil close behind.
2. A brave Nu world
Digital challenger, Nubank, takes the #1 spot in three of the four pillars of the Index: Talent, Innovation and Leadership.
Its dominance signals a new era of AI-enabled banking in the region, with an AI-talent density of 5%, three times the average, underscoring a tech-first edge that regional incumbents can’t yet match.
3. Brazilian banks generate more use cases with outcomes
Brazilian banks account for 7 of the 20 banks in the Index (35%), yet over the past two years they have produced nearly half (49%) of use cases with reported outcomes.
4. A constrained regional talent landscape, complicated by global players
The 20 Latin American banks collectively employ more than 10 thousand AI professionals between them, competing for a limited pool of specialized talent – not just with each other, but with other global financial institutions operating in the region.
The local subsidiaries of BBVA and Santander would rank as the region’s third and fourth largest AI workforces.
5. Latin American banks favor “buy” vs. “build” innovation strategies
Vendor partnerships remain the preferred approach to accessing frontier capabilities, even as hyperscaler infrastructure becomes more available across the region.
Innovation strategies favour business oriented R&D, rather than publishing academic papers, to plug gaps.
6. Realized ROI has not laddered up to the enterprise level
Over two-thirds (70%) publish use cases with reported outcomes, and more than half (55%) disclose the total number of use cases in production. Yet none have shared realized or projected ROI across all AI activities - so far.
7. Financial risk management: A leading use case, particularly for Brazilian banks
Financial risk management is an area of high strategic importance throughout the region, against a backdrop of higher inflation, interest-rate volatility and exchange-rate fluctuations that is altering borrower capacity and asset quality.
8. Brazilian banks channel responsible AI rhetoric into impactful initiatives
While government-led AI policy remains patchy across the region, there is still a concerted focus on responsible AI (RAI) activities, with Brazil paving the way.
16 banks (80%) reference RAI commitments in strategic documents, 10 banks (50%) offer RAI-specific training to employees, and nine banks have published formal RAI principles.
Curated News
💳 Payments
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Visa and Nium Join Singapore’s Stablecoin Pilot
Visa and Nium have joined the Monetary Authority of Singapore’s Project Bloom stablecoin pilot. Their participation highlights growing interest in using stablecoins within regulated payment infrastructure.
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Mastercard and Shukria Target Commercial Payments in UAE
Mastercard and Shukria have announced a strategic collaboration to advance commercial payments in the UAE. The partnership aims to support businesses with more modern payment capabilities.
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Ericsson and MTN Group Modernize Mobile Money Infrastructure
Ericsson and MTN Group are upgrading their mobile-money platform to support MTN’s 2030 ambitions. The modernization could strengthen digital financial services and mobile payments across their markets.
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🏦 Banking
Egypt’s CIB Gets Approval for Yomo Digital Bank
Commercial International Bank has received central-bank approval to establish Yomo, a digital bank in Egypt. The move adds another bank-backed digital banking initiative to the country’s growing fintech ecosystem.
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Starling Launches Agentic AI Assistant for Businesses
Starling Bank has launched an agentic AI assistant designed for business customers. The product shows banks moving beyond basic chatbots toward AI systems that can actively assist with financial tasks.
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NatWest Partners Enterprise Nation to Support Small Businesses
NatWest has partnered with Enterprise Nation to provide additional support for small businesses. The initiative expands the bank’s efforts to help SMEs access resources and grow their operations.
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Revolut Forms Singapore Advisory Board
Revolut has established an advisory board in Singapore as it strengthens its presence in the region. The move supports the fintech’s broader expansion strategy in Asia.
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💼 Fintech
UK Fintech Funding Falls to a Decade Low
UK fintech funding has fallen to its lowest level in a decade. The decline highlights the tougher investment environment facing startups despite continued demand for financial innovation.
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Neno Raises €6.6M to Build an AI Accountant
Neno has raised €6.6 million to develop an AI-powered accounting platform. Founded by former Mollie and Booking.com executives, the startup is targeting automation of core accounting workflows.
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Responsible Fintech Institute Launches Quantum Computing Pilot
The Responsible Fintech Institute has launched a quantum-computing pilot. The initiative explores how emerging quantum technology could eventually affect financial services and responsible innovation.
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MDT and OnTrac Help Credit Unions Prepare for AI
MDT and OnTrac are partnering to help credit unions build AI readiness. The collaboration reflects growing pressure on smaller financial institutions to develop practical AI capabilities.
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Chocolate Finance Launches Business Accounts
Chocolate Finance is launching business accounts aimed at companies looking to earn returns on idle cash. The product expands the fintech’s offering into business financial management.
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🪙 Crypto
Coinbase Brings Tokenized Stocks to Ethereum Layer 2 Base
Coinbase is bringing tokenized stocks to its Base network, an Ethereum Layer 2. The move expands tokenization into equities and further connects traditional investment assets with blockchain infrastructure.
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Bitmine Buys Another $81M of Ethereum
Bitmine has purchased another $81 million worth of Ethereum as ETH outperforms Bitcoin. The acquisition reinforces the company’s aggressive strategy of building a large ETH treasury.
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Strive Buys $81.5M in Bitcoin After Issuing More Shares
Strive has purchased $81.5 million worth of Bitcoin after raising additional capital through a share issuance. The move adds to the growing trend of public companies using capital markets to build crypto treasuries.
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Bitcoin and Ethereum ETFs Add $23B in Assets
Bitcoin and Ethereum ETFs grew by $23 billion last week, although only $2.6 billion represented new money. The figures show how market movements can significantly boost crypto ETF assets without equivalent fresh inflows.
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Tap Global Launches Digital Asset Income Strategy
Tap Global has launched a digital-asset income strategy aimed at building what it calls the UK’s largest crypto treasury. The move shows crypto companies increasingly experimenting with structured treasury strategies beyond simple asset accumulation.
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⚖️ Regulation
SEC Proposes New Regulation for Crypto Assets
The SEC has proposed new regulations covering crypto assets. The proposal could significantly influence how digital assets are classified and regulated in the U.S.
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IDnow Receives EU Certification for Digital Identity Attestations
IDnow has received certification to issue Qualified Electronic Attestations of Attributes under Europe’s digital-identity framework. The development addresses an important compliance and identity-verification need as the EU’s digital identity infrastructure develops.
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Reggy Launches AI Compliance Platform
Norwegian startup Reggy has launched an AI-powered compliance platform aimed at tackling Europe’s increasingly complex regulatory environment. The product highlights how AI is being used to help financial businesses manage growing compliance workloads.
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🌍 Other
UK Credit Card Rates Fall as Consumer Balances Rise
UK credit-card payment rates have fallen while outstanding balances have increased during the summer spending period. The combination suggests consumers may be facing greater pressure as borrowing levels rise.
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