Fasset, a digital asset exchange based in the UAE, has been awarded the title of the best crypto and blockchain company at the prestigious Best in Business Awards organized by Inc Arabia. This annual event celebrates significant achievements, innovative practices, and impactful contributions made by business platforms based in the GCC region across 31 diverse categories.
Highlighting Economic Contributions
The Inc. Arabia Best in Business Awards aim to acknowledge businesses that have made substantial contributions to the economic growth and development of the GCC region. The awards focus on showcasing exemplary practices, leadership qualities, and pioneering initiatives that are shaping the future of business across various sectors, including e-commerce, real estate, artificial intelligence, and fintech. The selection process is rigorous, with nominees evaluated by a judging committee comprising decision-makers and thought leaders from multiple industries.
Fasset’s Founding Vision
Fasset was co-founded in 2019 by Mohammad Raafi Hossain, who serves as CEO, and Daniel Ahmed, the COO. Both founders previously served as advisors to the UAE’s Prime Minister’s Office, where they contributed to advancing the UAE’s vision of technological excellence. Fasset’s mission is to democratize access to innovative financial management tools, aiming to reach the next billion people globally.
Hossain commented that Fasset’s recognition at the Best in Business Awards is a testament to the company’s vision and the hard work of its 86-member team spread across three offices. He highlighted the company’s commitment to delivering superior products to users and empowering them with innovative, transparent, and safe investment and money management solutions. He also emphasized that their launch in the UAE earlier this year is just the beginning, expressing excitement for Fasset’s future plans both regionally and internationally.
Innovative Platform Offerings
Fasset’s platform facilitates secure and seamless transactions involving digital and tokenized real-world assets from any location and in the user’s preferred currency. The platform allows users to buy and invest in digital and tokenized real-world assets, engage in spot exchange transactions, and transfer funds within a blockchain environment. Investment options available on the platform include cryptocurrencies, stablecoins, and bundled assets.
Rapid Expansion and Strategic Partnerships
Since launching in the UAE in March 2024, after obtaining a fully operational Virtual Asset Service Provider (VASP) license from VARA through a stringent multi-stage approval process, Fasset has made significant strides. In April 2024, the company announced plans to expand into Malaysia following the signing of a Letter of Intent with MBSB Bank Berhad at the KL20 Summit. This partnership was noted by Malaysian Prime Minister Anwar bin Ibrahim as a sign of the country’s readiness for innovative transformation.
Fasset plans to continue expanding its operations in the region and beyond. With a substantial digital assets licensing portfolio in emerging markets, the company connects key regions, including the UAE, Indonesia, Malaysia, Bangladesh, Pakistan, and Türkiye.
Future Prospects
Fasset’s recent achievements and future plans indicate its strong commitment to advancing the digital asset ecosystem. The company’s ability to secure strategic partnerships and licenses in various emerging markets underscores its potential to become a significant player in the global financial landscape. As Fasset continues to innovate and expand, it is well-positioned to empower users with accessible and secure financial management tools, driving forward its mission to democratize access to digital assets worldwide.