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Fasset is Authorized to Operate in Dubai and Secures its License.
Digital asset investment platform Fasset obtained the authority to operate in Dubai and now can serve institutional investors, qualified investors, and retail investors. According to Dubai’s official records, Fasset received a license to operate as a Virtual Asset Service Provider (VASP) and thus can serve institutional, qualified, and retail investors.
The licensing process consists of three stages: temporary permission, preparation permit, and operating license. Fasset FZE completed this process in close cooperation with Dubai’s Virtual Asset Regulatory Authority (VARA). Now it is in a position to offer broker-dealer services and tokenized bonds and shares.
In 2020, Fasset promised to offer free transactions to users in six countries in the Gulf Region and launched the world’s first operating system built on the Ethereum blockchain. During this time, it focused on goals such as creating compliant remittance corridors and focusing on sustainable finance for a broad customer base. It obtained the necessary licenses and permissions to operate in the European Union and became operational in Indonesia in August by partnering with Mastercard.
Fasset CEO Mohammad Raafi Hossain said, “VARA approval is a critical link in our global license portfolio, connecting major regions worldwide, especially places like Indonesia, Malaysia, Bangladesh, Pakistan, and Turkey.”
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