Fasset has been granted a Virtual Asset Service Provider (VASP) license from regulators in Dubai, allowing it to perform broker-dealer services legally in the emirate.
Digital asset investment platform Fasset was granted an operational license on Nov. 29, according to a listing on the Dubai Virtual Asset Regulatory Authority (VARA) website.
The Virtual Asset Service Provider (VASP) license granted to Fasset allows it to perform broker-dealer services legally in Dubai.
The company was initially based in London, though it now operates in Indonesia and Dubai.
Cointelegraph contacted Fasset for comment and additional information on the development but has not yet received a reply.
Related: Standard Chartered’s venture arm to set up crypto fund in UAE
VARA, the issuing regulator, is the sole authority for enforcing regulations on digital assets in Dubai. Earlier in November, the VARA shuffled around its leadership as it prepared to expand operations and “ramp up to full-scale market operations” in 2024.
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