Fasset Secures Malaysia License for Stablecoin Islamic Digital Bank

Fasset, a Dubai- and Jakarta-based digital banking and investment platform, has secured a provisional banking license from Malaysia, enabling it to operate as the world’s first stablecoin-powered Islamic digital bank within a regulated sandbox for Islamic fintech innovations. This milestone allows Fasset to expand from digital asset investing into full-service, Shariah-compliant banking, offering zero-interest savings, financing, and investment products backed by stablecoins and tokenized assets, including access to U.S. stocks, gold, and cryptocurrencies. The company serves users across 125 countries with an annualized transaction volume exceeding $6 billion, projected to reach $24 billion by the end of 2026. Fasset aims to address the significant gap in financial inclusion within the $5 trillion global Islamic finance industry, particularly across Asia and Africa, by providing transparent, asset-backed banking solutions that comply with Shariah law, which prohibits interest. The platform also plans to introduce a crypto debit card and develop Own, an Ethereum Layer 2 network for settling real-world regulated assets on-chain. Malaysia’s approval reinforces its role as a hub for digital and Islamic finance innovation while positioning Fasset as a fintech leader combining global banking credibility with cutting-edge technology.