Digital Asset Investment Platform Fasset Wins Operational Licence in Dubai

Digital Asset Investment Platform Fasset Wins Operational Licence in Dubai

Congratulations to digital asset investment platform Fasset for securing an operational license in Dubai as a Virtual Asset Service Provider (VASP). This license enables Fasset to cater to institutional investors, qualified investors, and retail investors. The comprehensive three-stage licensing process involved a provisional permit, a preparatory license, and finally, the operating license. With this achievement, Fasset will now have the capability to offer broker-dealer services and provide tokenized bonds and stocks in collaboration with Dubai’s Virtual Asset Regulatory Authority (VARA). Fasset has been actively expanding its services globally and has already obtained licenses in the European Union and launched operations in Indonesia. This momentous approval by VARA significantly strengthens Fasset’s licensing portfolio and enhances its positioning in the global digital asset investment market.

Digital Asset Investment Platform Fasset Wins Operational Licence in Dubai

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Introduction

Fasset, a digital asset investment platform, has recently secured an operational license in Dubai. This license allows Fasset to serve a wide range of investors, including institutional, qualified, and retail investors. The license marks a significant milestone for Fasset, as it positions them as a Virtual Asset Service Provider (VASP) in Dubai.

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License Acquisition Process

Fasset’s acquisition of the operational license in Dubai involved three stages. The first stage was obtaining a provisional permit, followed by a preparatory license. Finally, Fasset completed the third stage by securing the operating license. This comprehensive process demonstrates Fasset’s commitment to compliance and regulatory requirements.

Services Provided by Fasset

Fasset’s operational license enables them to provide a variety of services to investors. As a Virtual Asset Service Provider, Fasset can cater to institutional, qualified, and retail investors. Additionally, Fasset offers broker-dealer services, allowing investors to access a wide range of investment options. Furthermore, Fasset provides the opportunity for investors to engage in tokenized bonds and stocks, expanding the possibilities for digital asset investment.

Expansion Plans

With the operational license secured in Dubai, Fasset has set ambitious expansion plans in motion. The company prioritizes real-life use cases, aiming to provide valuable solutions to customers across various industries. Additionally, Fasset is actively pursuing licensing and authorization in the European Union, further expanding its reach and investor base. In August, Fasset launched in Indonesia and formed a strategic partnership with Mastercard, demonstrating its commitment to global expansion. Furthermore, Fasset aims to establish connectivity with countries such as Indonesia, Malaysia, Bangladesh, Pakistan, and Turkey, fostering cross-border investment opportunities.

Fasset’s Founding Team

Fasset’s founding team brings a wealth of experience and expertise to the table. Many team members previously worked at the United Arab Emirates Prime Minister’s Office, initiating discussions on crypto regulation. Their involvement in shaping crypto regulation in the UAE highlights their dedication to creating a robust and compliant digital asset investment environment.

Headquarters and Operations

Originally headquartered in London, Fasset has since established dual-headquarters in Indonesia and Dubai. This strategic decision allows Fasset to leverage the advantages of both locations, further supporting its global expansion plans. By operating in multiple geographies, Fasset can effectively serve its diverse customer base and establish strong partnerships with key players in the digital asset investment industry.

Disclosure

Fasset acknowledges the importance of privacy and transparency. Accordingly, it has recently updated its privacy policy, terms of use, and cookies to ensure compliance with regulatory standards and protect user data. By prioritizing data protection and user rights, Fasset aims to build trust and foster long-term relationships with its valued customers.

About CoinDesk

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About the Author

Amitoj Singh is a CoinDesk reporter who covers the latest developments in the crypto and digital asset industry. With a deep understanding of the market and regulatory landscape, Amitoj provides valuable insights to readers. Follow @amitoj on Twitter for the latest updates from Amitoj.

Conclusion

Fasset’s acquisition of an operational license in Dubai is a significant achievement for the digital asset investment platform. It enables Fasset to serve a wide range of investors and expand its services globally. With a strong founding team, dual-headquarters, and ambitious expansion plans, Fasset is poised to make a lasting impact in the digital asset investment industry. The license acquisition marks an important milestone and highlights the growing recognition and acceptance of digital assets as a viable investment option. As Fasset continues to prioritize compliance, innovation, and customer satisfaction, it is well-positioned to thrive in the rapidly evolving digital asset landscape.

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