Fasset, a Dubai-based digital asset investment platform, has secured a provisional license from Malaysia’s Labuan Financial Services Authority (FSA) to launch the world’s first stablecoin-compliant digital bank, as it claims. A provisional license is a conditional or temporary authorization granted by a regulator, allowing a company to begin setting up operations.
Fasset’s Shariah-compliant services
The new license will allow Fasset to offer a wide range of digital banking services that comply with Shariah (Islamic law), which prohibits interest-based lending and speculative investments. The platform uses stablecoins and tokenized assets as a tool to provide digital banking services such as Shariah-compliant savings, financing, and investment services.
Fasset is no stranger to blockchain innovation. Earlier in May 2025, the company joined forces with Zand Bank and Capital Investment to launch ForteXchain, a new blockchain-based platform for tokenizing real estate investments. Also, the digital asset platform recently expanded to Bahrain in August 2025.
Adding to the Shariah-compliant crypto services – a space still relatively new — Binance has introduced Sharia Earn, a multi-token staking product aligned with Islamic principles.
