Fasset announces crypto authorization from EU

Rick Steves

“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.

Cornerstone to connect remittance corridor between the West and the East

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.

 

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<