Fasset, a digital asset gateway, has raised $22 million in Series ‘A’ funding and plans to offer services in Pakistan and Indonesia shortly.
Liberty City Ventures and Fatima Gobi Ventures led the Series ‘A’ funding round, with participation from Soma Capital, MyAsiaVC, VSV, and others.
Regional family offices from the Middle East and South Asia are among the prominent institutional investors, according to the corporation.
The funds will be used to develop new products and expand the company’s market. The team is in advanced talks with a number of regulatory bodies and will be launching services in Pakistan and Indonesia soon.
Fasset is preparing to offer digital asset services in Pakistan, and it is expected to receive approval to operate as a full-service cryptocurrency exchange in Indonesia next month.
In addition, the company recently received EU approval. According to the announcement, this latest milestone would allow Fasset to connect the worldwide diaspora’s remittance corridors to their home markets.
Fasset’s Co-Founder and Chief Executive Officer, Mohammad Raafi Hossain, a former advisor to the UAE Prime Minister’s Office, said, “Fasset is all about bringing multi-faceted digital asset use cases that connect home markets to their diaspora. We’re extremely passionate about financial inclusion and democratizing access to opportunity by enabling a new wave of digital asset owners in our target emerging markets.
Asset ownership is the strongest way to power healthy livelihoods and economies. Digital asset-driven remittance corridors can unleash a new wave of socioeconomic prosperity through unique product offerings that we’re diligently building. We are excited to work with regulators to enable this flow of capital, products and opportunity in our markets.”
Emil Woods, Liberty City Ventures’ Managing Partner, stated, “We believe that digital assets are increasingly crossing over to the mainstream, and have massive potential to disrupt legacy businesses and markets, especially in the emerging markets. We are eager to partner with the team at Fasset to capture the opportunities presented, and to shape the future of finance.”
Fasset is a globally regulated digital asset gateway that intends to connect the next billion by allowing them to purchase, sell, send, and store digital assets like bitcoin and real-world asset tokens.
Fasset, which is located in the world’s most valuable remittance corridor, gives individuals in frontier markets quick, free, and frictionless access to digital assets, equipping them with the knowledge and skills they need to build a brighter future.
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