Fasset Secures Dubai License to Strengthen its Digital Asset Services

Published: November 30, 2023 at 3:29 am Updated: November 30, 2023 at 3:29 am

Edited and fact-checked:
November 30, 2023 at 3:29 am

In Brief

UAE’s Fasset has secured a key operational license in Dubai to expand its digital asset market and serve a diverse range of investors.

Fasset Gains Key Dubai License to Enhance Digital Asset Services

Prominent digital asset investment platform Fasset, has secured a critical operational license in Dubai as a Virtual Asset Service Provider (VASP). The license will enable Fasset to expand its services to a broader spectrum of clients, including institutional, qualified, and retail investors.

The company’s success in obtaining the full license, including the final operating license stage, allows it to offer a range of services such as broker-dealer functions and the provision of tokenized bonds and stocks, in partnership with Dubai’s Virtual Asset Regulatory Authority (VARA).

Since its inception, the platform initially gained attention in 2020 by introducing zero-fee trades in six Gulf Region countries and launching an innovative operating system on the Ethereum blockchain for ethical financing of sustainable infrastructure.

Over the years, Fasset has focused on real-world applications for its diverse clientele, establishing compliant remittance corridors and expanding its operations.

Fasset has solidified its position in the digital asset marketplace with licenses and authorizations in the European Union. Its recent launch in Indonesia, facilitated through a partnership with Mastercard Indonesia, further enhances its global footprint.

Fasset’s Strategic Positioning and Global Impact

The license from VARA — known for its progressive regulatory framework, is a significant addition to Fasset’s global licensing portfolio. It will strengthen Fasset’s presence in key markets such as Indonesia, Malaysia, Bangladesh, Pakistan and Turkey.

CEO Mohammad Raafi Hossain, known for his engagement in crypto regulation discussions at the United Arab Emirates Prime Minister’s Office, highlights the importance of this approval. He sees it as a critical component in Fasset’s expansion strategy.

With headquarters now in Indonesia and Dubai, Fasset is well-positioned to leverage its unique insights and experiences. This advantage stems especially from its time during the COVID-19 pandemic when it was based in London.

Fasset’s latest achievement in Dubai marks a significant milestone in its journey to redefine digital asset services. The company’s strategic expansion, aligned with rigorous compliance standards, sets a benchmark for others in the industry.

As Fasset continues to innovate and grow, it seems poised to significantly influence the digital asset landscape. The company offers a blend of advanced technology and regulatory adherence to its diverse clientele.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti