{"id":51429,"date":"2025-10-07T06:16:54","date_gmt":"2025-10-07T06:16:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=51429"},"modified":"2025-10-07T06:16:54","modified_gmt":"2025-10-07T06:16:54","slug":"fasset-wins-malaysia-license-to-launch-first-stablecoin-based-islamic-digital-bank","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=51429","title":{"rendered":"Fasset Wins Malaysia License to Launch First Stablecoin-Based Islamic Digital Bank"},"content":{"rendered":"<div>\n<p>Fasset, a digital asset investment platform, has been given a provisional banking license in Malaysia, clearing the way for what it calls the world\u2019s first stablecoin-powered Islamic digital bank.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>CEO Mohammad Raafi Hossain said the new license combines \u201cthe credibility of a global banking institution with the innovation of a fintech insurgent.\u201d Fasset also plans to roll out \u201cOwn,\u201d an Ethereum Layer 2 network built on Arbitrum, to settle regulated real-world assets on-chain.<\/p>\n<p>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 <em>riba<\/em>). <\/p>\n<p>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. <\/p>\n<p>Back in March of last year, Fasset <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/11\/30\/digital-asset-investment-platform-fasset-wins-operational-licence-in-dubai\">won a license<\/a> 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.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Fasset, a digital asset investment platform, has been given a provisional banking license in Malaysia, clearing the way for what it calls the world\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-51429","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51429"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51429\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}