Fasset, a digital asset exchange, has announced the official launch of its app in the UAE. The platform offers access to broker-dealer services catering to both novice and seasoned investors looking to diversify their portfolios with digital assets.
Fasset’s app facilitates secure and seamless transactions involving digital and tokenized real-world assets, empowering users to engage in buying, investing, spot exchange transactions, and fund transfers, all within a blockchain environment. The platform offers a range of investment options including cryptocurrencies, stablecoins, and bundles. Additionally, prospective investors can hone their skills in a safe learning environment through Fasset Play, a digital playground.
The launch of the app follows Fasset’s milestone achievement of being granted a Virtual Asset Service Provider (VASP) license by the Virtual Assets Regulatory Authority (VARA) in Dubai, UAE, in November 2023. The rigorous approval process by VARA positions Fasset as an authorized provider of virtual asset services to retail and institutional investors, ensuring compliance with regulatory standards.
Mohammad Raafi Hossain, CEO of Fasset, expressed his enthusiasm about extending the platform’s offerings to the UAE market, stating, “UAE is experiencing a surge in digital asset investment as the government promotes innovation and entrepreneurship in the country. We are happy to extend our secure and transparent platform to customers in the UAE. Our goal is to empower people to have universal access to financial services, so they have more opportunities to build and manage their wealth.”
The UAE marks the second operational country for Fasset, following its successful launch in Indonesia in 2023, where it garnered over one million customers on the waitlist within the first week. Fasset’s partnership with Indosat Ooredoo Hutchison facilitated the launch of the world’s first embedded digital asset exchange in a telco app, accessible to over 100 million users in Indonesia. Furthermore, collaborations with entities like Mastercard have enabled Fasset to offer a crypto card to users in the region.
With a robust licensing portfolio in emerging markets, including Indonesia, Malaysia, Bangladesh, Pakistan, and Türkiye, Fasset is poised for global expansion. The VASP license granted by VARA enables Fasset to conduct virtual asset brokerage services out of Dubai for customers worldwide. The company aims to further scale its operations in the region and beyond, leveraging its expertise in digital asset exchange and commitment to regulatory compliance.
