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 connecting home markets to their diaspora through multi-faceted digital asset use cases. We’re passionate about financial inclusion and democratising access to opportunity in our target emerging nations by empowering a new breed of digital asset owners. The most powerful approach to fuel healthy livelihoods and economies is to possess assets. Through unique product solutions that we’re diligently developing, digital asset-driven remittance corridors can unleash a new wave of socioeconomic development. We’re looking forward to collaborating with authorities to facilitate the flow of cash, products, and opportunities in our markets.
Emil Woods, Liberty City Ventures’ Managing Partner, stated: Digital assets, we believe, are increasingly entering the mainstream and have enormous potential to disrupt legacy firms and marketplaces, particularly in emerging nations. We’re excited to work with the Fasset team to seize the opportunities that have arisen and help influence the future of finance.
Fatima Gobi Ventures General Partner Ali Mukhtar stated,
Fasset’s mission of enabling the next billion to gain access to digital assets is quite similar to our approach to investing in the space. We are pleased to assist Fasset in democratising access to this young asset class, and we look forward to assisting the company in its growth markets.
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.