Fasset Launches Crypto Exchange App in UAE, Secures VASP License
Fasset, a leading digital asset exchange platform, has officially launched its crypto exchange app in the United Arab Emirates (UAE), offering a wide range of investment opportunities for both new and experienced investors. This milestone was made possible after Fasset secured a Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Asset Regulatory Authority (VARA) in November 2023.
The app, which has already seen success in Indonesia with over one million users in its first week, allows users to engage in spot exchange transactions, transfer funds securely on the blockchain, and invest in cryptocurrencies, stablecoins, and tokenized real-world assets. One of the standout features of the app is Fasset Play, an educational component designed to help users improve their investment skills in a risk-free environment.
Fasset CEO Mohammad Raafi Hossain expressed the company’s commitment to the UAE market, highlighting the government’s support for innovation and entrepreneurship as key factors driving interest in digital assets in the region. Fasset’s presence extends beyond the UAE, with operations in emerging markets such as Indonesia, Malaysia, Bangladesh, Pakistan, and Türkiye.
The company’s strategic partnerships have played a crucial role in its rapid growth, including collaborations with Indosat Ooredoo Hutchison and Mastercard. Fasset has raised a total of $26.7 million in funding, with notable investors such as Liberty City Ventures, Fatima Gobi Ventures, Soma Capital, and MyAsiaVC.
With its innovative platform and commitment to democratizing access to financial services, Fasset is poised to make a significant impact in the digital asset space in the UAE and beyond.
