Fasset Secures License to Boost Digital Asset Services in Dubai
Fasset, a prominent digital asset investment platform, has successfully acquired an operational license in Dubai, marking a significant advancement in its capacity to serve a wide spectrum of investors. The completion of the licensing process positions Fasset to offer broker-dealer services and tokenized bonds and stocks, in collaboration with Dubai’s Virtual Asset Regulatory Authority (VARA).
With this license, Fasset is poised to expand its services, encompassing broker-dealer activities and the provision of tokenized bonds and stocks. The strategic partnership with VARA signifies Fasset’s commitment to operating within one of the world’s most progressive regulatory frameworks for virtual assets.
Fasset’s journey began in 2020 with zero-fee trades in six Gulf Region countries and the introduction of the world’s first operating system built on the Ethereum blockchain dedicated to ethical financing of sustainable infrastructure. The platform has since focused on real-life use cases and compliant remittance corridors, acquiring licenses to operate in the European Union and expanding into Indonesia.
Fasset’s CEO, Mohammad Raafi Hossain, emphasized the significance of the VARA approval, noting it as a critical component in their global licensing strategy. This approval connects Fasset’s operations across various countries, illustrating its expansive reach in the digital asset market.
The founding team of Fasset has roots in the United Arab Emirates Prime Minister’s Office, where they initiated early discussions for crypto regulation. Originally headquartered in London during the COVID-19 pandemic, Fasset now operates from both Indonesia and Dubai.
Fasset’s acquisition of the operational license in Dubai marks a pivotal moment in its journey, enhancing its ability to offer diverse digital asset services. This achievement not only strengthens Fasset’s position in the virtual asset sector but also contributes to the evolving landscape of digital asset investment and regulation globally.
