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Fasset App Launches in UAE

Fasset's platform enables secure transactions involving digital and tokenized real-world assets from any location and in the user’s preferred currency.

By Inc.Arabia Staff
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Digital asset exchange Fasset has officially launched in the UAE. The app aims to provide access to broker-dealer services for both early investors and experienced individuals looking to diversify their investment portfolios with digital assets.[1]

Fasset's platform enables secure transactions involving digital and tokenized real-world assets from any location and in the user’s preferred currency. Users can engage in buying and investing in digital and tokenized real-world assets, participate in spot exchange transactions, and transfer funds, all within a blockchain environment. The available investment options include cryptocurrencies, stablecoins, and bundles.

In November 2023, the Virtual Asset Regulatory Authority (VARA) in Dubai, United Arab Emirates, granted Fasset a license, which led to the launch of the app.

Following a successful launch in Indonesia in 2023, where the app garnered over one million customers on the waitlist within the first week, the UAE marks the second country of operations for Fasset. Through a partnership with Indosat Ooredoo Hutchison, Fasset introduced the world’s first embedded digital asset exchange in a telco app, available to over 100 million users in Indonesia. Additionally, the company has partnered with Mastercard to offer a crypto card to users in the region.

Founded by Mohammad Raafi Hossain and Daniel Ahmed, the fintech startup Fasset has raised a total of $26.7 million in funding to date.

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