– Fasset FZE has received a VASP license from VARA in Dubai, UAE
– The license authorizes the company to provide digital asset broker-dealer services
– The company aims to provide economic opportunity and access to buy, sell, send, store and do more with digital assets such as bitcoin
– Fasset will begin a beta launch next month and rollout to customers in January 2024
– The company has announced an investment from Investcorp
– Many crypto companies are seeing the Middle East, particularly Dubai, as an emerging cryptocurrency hub
– VARA licenses have become attractive for major companies in the crypto industry
– Fasset’s CEO commented that the license bolsters the company’s focus on enabling people across emerging markets to access digital assets
– Fasset is headquartered in the UAE and Indonesia and focuses on offering real-life use cases facilitated through digital assets, underpinned by blockchain technology
– The company prioritizes secure and stable cryptocurrencies such as bitcoin and ethereum
– Fasset collaborates with various corporate entities, including telecos, digital banks, and asset managers
1. Fasset FZE Receives VASP License from VARA in Dubai
– Fasset FZE has received a Virtual Asset Service Provider (VASP) license from the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE.
– The operational license authorizes the company to provide digital asset broker-dealer services to retail and institutional investors globally.
2. Fasset’s Plans and Investment from Investcorp
– Fasset aims to provide economic opportunity and access to digital assets through its super-app, Fasset Connect.
– The company plans to launch a beta version next month and roll out to customers in January 2024.
– Fasset has received an investment from alternative asset manager Investcorp, ahead of its Series B round.
3. Middle East as an Emerging Crypto Hub
– Many crypto companies see the Middle East and Dubai as an emerging cryptocurrency hub.
– The VARA license has become attractive, with major companies in the crypto industry receiving viable product or VASP licenses.
4. Fasset’s Focus and Offerings
– Fasset focuses on enabling people in emerging markets to access digital assets.
– The company offers real-life use cases facilitated through digital assets, underpinned by blockchain technology.
– It prioritizes secure and stable cryptocurrencies, tokenized commodities, and precious metals, collaborating with various corporate entities for accessibility.
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