Fasset

Fasset is a Dubai-headquartered digital banking and investment platform that lets users save, spend, invest, and move money globally from a single stablecoin-powered account. Its consumer app offers USD/stablecoin accounts, a tiered debit card (Edge, Select, Elite, Reserve) with cashback, fractional investing in tokenized US stocks and commodities (including gold and silver), crypto trading, an OTC desk, and business-facing products (Fasset Engine API, Fasset Pay). Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset says it serves over 3 million wallets across 125+ countries and operates in several regulated markets including the UAE, Indonesia, Malaysia, Pakistan, and Turkey. It holds a Category 3 crypto service license from the Central Bank of Bahrain and launched consumer services in Bahrain in 2025, and separately obtained a provisional Malaysian banking license to run what it describes as the first Shariah-compliant, stablecoin-powered Islamic digital bank. The company has raised venture funding across multiple rounds, including a Series C reported at roughly $68M and a $1B valuation, with investors such as Investcorp participating in a $51M round.