Fasset
Ethical digital-asset super-app; UAE/ID/MY corridors.
- Who holds it
- The company itself — it holds a full banking licence — VARA VASP license (Dubai, broker-dealer); provisional Islamic digital-bank license in Malaysia.
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Fasset’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | hybrid · faith-based |
| HQ | Dubai, AE |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | VARA VASP license (Dubai, broker-dealer); provisional Islamic digital-bank license in Malaysia |
| Card | Visa · Debit |
| Cashback | Rewards |
| Yield | Yield on assets |
| Stablecoins | Yes |
| KYC | Yes |
| Active regions | MENA |
| Countries | UAE, Indonesia, Malaysia, Türkiye |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @fassetofficial ↗
Common questions about Fasset
What is Fasset?
Fasset is a fiat-and-crypto neobank built for faith-based, headquartered in Dubai, AE and founded in 2019. Your money is held custodially, so Fasset or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (VARA VASP license (Dubai, broker-dealer); provisional Islamic digital-bank license in Malaysia).
Does Fasset have a card, and where can you use it?
It issues a Visa debit card. It is available in 4 countries, across MENA.
Does Fasset require KYC?
Yes. Fasset requires identity verification (KYC) to open an account, as a licensed bank.
What does Fasset cost?
From the verified fields: cashback Rewards; yield Yield on assets. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Fasset before relying on them.
Peers
Crypto.com · Binance Card · Bybit Card · OKX Card · Bitget Card · KuCard
Fasset appears in
Neobanks that hold their own banking license (132) · Neobanks available in MENA (85) · Faith-based and Islamic neobanks (7) · Neobanks that issue a Visa card (182) · Neobanks in UAE (14)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.