Fasset Secures Provisional Banking License to Become World’s First Stablecoin-Powered Islamic Bank
Fasset , a leading global financial superapp, has secured approval from Malaysia to provide banking services. The license completes Fasset’s ability to provide full-service digital banking to its existing global user base of 500,000 within a regulated sandbox for Islamic fintech innovations, establishing Fasset as the world’s first stablecoin-powered Islamic digital bank. Fasset seeks to become for people in Asia and Africa what NuBank has been for Latin America: a mass-market gateway to financial inclusion. There is already strong demand - the global Islamic financial industry surpassed US$5T in assets in 2025 , with projections suggesting this could double by 2030. Yet access to Shariah-compliant financial products remains limited across much of the pan-Islamic belt. Fasset is closing this gap. Powered by its regulatory and tech infrastructure, Fasset has built st...