Fasset announces crypto authorization from EU

“The EU is a hotbed for crypto activity, with a number of member states leading the charge in both innovation and implementation.”

Fasset has announced it has secured a cryptocurrency authorization from the European Union, without disclosing what license from which EU member.

The global digital asset gateway is celebrating the authorization as it provides an EU passport for the firm to expand its global operations to serve the growing digital asset sector in the EU market and beyond.

Launched in 2019, Fasset offers easy, free, and frictionless access to digital assets so that they can buy, sell, send and store digital assets such as cryptocurrency and real world asset tokens.

Asset tokenisation is a specialty at the firm, having previously partnered with Middle East fintech company Infinios (formerly known as NEC Payments) to complete the first Proof-of-Concept tokenization of a Tesla charging unit in a move to accelerate the progression of the electric vehicle (EV) industry in pursuit of creating a more sustainable future.

Mohammad Raafi Hossain, Fasset Co-Founder and Chief Executive Officer, and former Advisor to the UAE Prime Minister’s Office, said: “The digital asset sector has become an undeniable force in today’s financial and technological landscape. The EU is a hotbed for crypto activity, with a number of member states leading the charge in both innovation and implementation. With this license, Fasset can continue on its mission of enabling greater access to crypto assets, bringing investors a step closer to the future of finance. The EU will serve as a cornerstone as we look to connect the remittance corridor between the West and the East.”

Fasset has previously secured three separate full authorisations from the Labuan Financial Services Authority, which represents the Malaysian federal territory of Labuan.

The European Union represents a quarter of global cryptocurrency activity worth over US$1 trillion and is already an established hub for digital assets and a thriving market for growth and innovation in emerging technologies.