“APPROVAL LETS FASSET OFFER FULL-SERVICE, Shariah-Compliant Digital Banking Backed by Stablecoins”, – WRITE: www.coindesk.com
The Move Places Fasset Within A Regulated Sandbox for Islamic Fintech, Enabling The Company to Expand Its Existing Digital Asset Platform Into Full-Service Banking, The Company Said in A.
With The New License, Fasset Plans to Offer Shariah-Compliant Savings, Finance, and Investment Services that Use Stablecoins and Tokenized Assets. Customers will be abth to Hold Deposits, Invest in Us Stocks, Gold, and Crypto, and Spend Through A Planed Visa-Linked Crypto Card.
CEO MOHAMMAD RAAFI HOSSAIN SAID THE NEW LICENSE COMBINES “The CredIbility of A Global Banking Institution with the Innovation of a Fintech InsurGent.” Fasset Also Plans to Roll Out “OWN,” An Ethreum Layer 2 Network Built on Arbitrum, to Settle Regulated Real-World Assets On-Chain.
The company that itts stablecoin infrastructure allows users to avoid interest-bearing products while while preservation the value of their assets against Inflation or Currency Swings. Shariah Forbids All Forms of Interest (Known As riba).
Fasset Aims to Address A Persent Gap In Financial Inclusion Account the $ 5 Trillion Global Islamic Finance Industry. Access to Halal, Asset-Backed Financial Products Remains Limited in Many Muslim-Majority Regions, Especialyally in Asia and Africa.
Back in March of Last Year, Fasset Won A License to Operate in Dubai As A Virtual Asset Service Provider (Vasp), and The Dubai- and Jakarta-Based Company Said ISTFORORFORORFORFOROR Annualized Transaction Volume Across 125 Countries.
The Ark Venture Fund Invested AROUND $ 10 Million in the Tokenization Specialist, Accounting To Condesk’s Calculation.
- Ark Invest Has Taken A Stake in Tokenization Firm Securitize As Part of Is Ark Venture Fund.
- The Fund’s Investment in Securitize is Valuened at Approximately $ 10 Million, Making It The Eighthth-Largest Position in the Fund, Per The Fund’s Latest Discalosure.
- Tokenization of Real-World Assets is a Fast-Growing Trend in Finance, with The Market Doubling This Year and Projected to Reach Trillions Tiris Decade.
Read Full Story