Fasset is looking beyond cryptos as it plans to offer other novel asset classes such as tokenized real estate, sukuk, and global stocks.
Fasset has announced the launch of a ‘super app’ focused on the emerging markets, with a particularly successful penetration in Indonesia, Pakistan, and Türkiye.
The digital asset company is onboarding residents from these three jurisdictions following the issuance of its crypto asset trading license from regulator Bappebti, the Commodity Futures Trading Regulatory Agency of Indonesia.
Fasset’s main target is users from regions such as the GCC to Southeast Asia, one of the most lucrative and active remittance corridors in the world.
Fasset to expand to tokenized real estate, sukuk, and global stocks
The platform provides an interface through which to buy, sell, swap, and earn across digital assets — including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), USD Tether (USDT), PAX Gold (PAXG) and Tether Gold (XAUT), and will soon offer other novel asset classes such as tokenized real estate, sukuk, and global stocks.
Fasset’s super-app also gives customers access to thematic bundles consisting of a variety of digital assets to further make it easier to invest and build long term wealth. Aside from assets, Fasset’s super-app will soon enable services such as remittance, lending, and borrowing.
Backed by Liberty City Ventures, Fasset has been building the infrastructure to support the super-app for over four years. Its Indonesia market launch will be driven by a local team of over 20 people out of Fasset’s new headquarters in Jakarta, which will serve as a regional hub for wider expansion in addition to the dual headquarters in Dubai.
“Digital assets on blockchain rails can democratize finance”
Mohammad Raafi Hossain, CEO of Fasset, said: “Fasset’s goal is to bring the opportunity of financial freedom to the fingertips of users across emerging markets. We’re laser-focused on unlocking the potential of real-world assets and translation them into economic opportunities for all. We want every user to be able to build a portfolio that eventually enables them to earn enough yield to allow them do what they love with their life. In most emerging markets, being able to build a diversified portfolio, leverage against assets and earn sustainable yields are either scarce or non-existent. Digital assets on blockchain rails can democratize finance and level the playing field, giving billions of people the opportunity to invest in the upside of global asset classes across the world.
“The digital assets ecosystem was built on the ethos of financial freedom and fairness — especially for emerging economies — but has fallen short of this grand promise. Fasset’s super-app not only makes both digital assets and on-chain real-world assets more accessible to the world’s most mobile-savvy populations, but also broadens its users’ horizons through the availability of asset classes they might not have previously known existed. In the process of building this super-app, our team of digital asset experts conducted extensive analyses of what our users needed, supporting only the asset classes that stand to help individuals build long-term wealth.”
Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison, said: “We see massive growth in crypto asset investors in Indonesia. By exploring the collaboration with Fasset to enable crypto services in the myIM3 and bima+ applications, we hope it can help the crypto industry and investment growth in the country. This collaboration manifests IOH commitment to delivering world-class digital experiences, connecting, and empowering every Indonesian.”
