Fasset Wins Malaysia License to Launch First Stablecoin-Based Islamic Digital Bank

Approval lets Fasset offer full-service, Shariah-compliant digital banking backed by stablecoins.
Fasset, a digital asset investment platform, has been given a provisional banking license in Malaysia, clearing the way for what it calls the world’s first stablecoin-powered Islamic digital bank.
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 press release on Tuesday.
With the new license, Fasset plans to offer Shariah-compliant savings, financing, and investment services that use stablecoins and tokenized assets. Customers will be able to hold deposits, invest in U.S. stocks, gold, and crypto, and spend through a planned 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 Ethereum Layer 2 network built on Arbitrum, to settle regulated real-world assets on-chain.
The company said that its stablecoin infrastructure allows users to avoid interest-bearing products while preserving the value of their assets against inflation or currency swings. Shariah forbids all forms of interest (known as riba).
Fasset aims to address a persistent gap in financial inclusion across the $5 trillion global Islamic finance industry. Access to halal, asset-backed financial products remains limited in many Muslim-majority regions, especially 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 its platform is already processing more than $6 billion in annualized transaction volume across 125 countries.
https://www.coindesk.com/business/2025/10/07/fasset-wins-malaysia-license-to-launch-first-stablecoin-based-islamic-digital-bank
#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple

Видео Fasset Wins Malaysia License to Launch First Stablecoin-Based Islamic Digital Bank канала Crypto World Daily