Fasset Gets Full Market License From VARA

Fasset Gets Full Market License From VARA

Fasset, a digital asset exchange platform with the vision of providing an affordable and frictionless gateway for people in emerging markets to own and grow their wealth in digital assets, announced unilaterally that it has been granted an Initial Approval for a Full Market Product (FMP) licence by Dubai’s Virtual Assets Regulatory Authority (VARA) in UAE.

“Though the initial approval does not yet allow any virtual asset activity in or from Dubai,” according to the release, “this initial stage indicates progress towards obtaining full permission to operate in Dubai.” As the MENA area has been identified as the world’s fastest growing cryptocurrency industry, this critical move forward allows Fasset to lead the digital assets market as one of the first exchanges to provide regulatory protection to users in Dubai.”

Fasset has sought regulatory approval in the Middle East, Asia, and Africa, where digital asset-based railroads are critical.

Fasset is now a sponsor and speaker at the Dubai Fintech Summit. Mohammad Raafi Hossain spoke on a panel about cryptocurrency and the changing regulatory framework, emphasising the societal value of cryptocurrency.

(With inputs from Shikha Singh)

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