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Fasset received a provisional license from Malaysia’s Labuan Financial Services Authority (FSA) to launch what the company said is the first stablecoin-powered “Islamic digital bank.”
The license allows Fasset, an all-in-one financial super app, to operate within a regulated sandbox focused on Shariah-compliant financial products, the company said in a Tuesday news release.
“We can now combine the credibility of a global banking institution with the innovation of a fintech insurgent that’s fully halal,” Fasset CEO Mohammad Raafi Hossain…
