Dubai-based digital asset brokerage Fasset FZE has recently obtained a Virtual Asset Service Provider (VASP) license from the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE. This license marks the final stage of approval by VARA and allows Fasset to offer digital asset broker-dealer services to retail and institutional investors globally, operating from Dubai.
The VASP license granted to Fasset is specific to certain activities and product types, as highlighted by VARA. It is crucial for investors and customers to review the regulated activities that the company is authorized to engage in.
Fasset’s innovative solution, known as Fasset Connect, positions the company as a key player in accelerating user acquisition and promoting digital transformation across the industry. The beta launch of Fasset Connect is scheduled for next month, with full customer rollout planned for January 2024.
In addition to acquiring the license, Fasset has announced an investment from Investcorp, an alternative asset manager. The funding details have not been disclosed by Fasset.
