Arab Press

بالشعب و للشعب
Friday, Aug 01, 2025

UK's Fasset gets Bahrain nod to test blockchain platform

UK's Fasset gets Bahrain nod to test blockchain platform

Sustainable infrastructure financing platform is approved for testing in Bahrain's FinTech Regulatory Sandbox

UK-headquartered Fasset, a provider of blockchain-powered platforms for the financing of sustainable infrastructure, has received authorisation to test its solutions for the tokenisation of hard assets in Bahrain’s FinTech Regulatory Sandbox.

The authorisation, issued by the Central Bank of Bahrain, is the first of its kind in the world. The company has raised some $4.7 million in pre-seed investment from strategic backers in the UAE, Saudi Arabia, Bahrain, Kuwait, and Singapore.

Fasset said it aims to address climate change acceleration by bridging the sustainable infrastructure funding gap estimated by the World Economic Forum to reach $15 trillion by 2040.


Through its two flagship products – Fasset Enterprise Platform (FEP) and Fasset Exchange (FEX) – the company said it aims to increase investor exposure to assets that were previously illiquid, inaccessible, or had high barriers to entry.

FEP provides a tokenisation service for sustainable infrastructure assets - breaking down large assets into smaller “pieces” or tokens using blockchain technology while FEX is a platform to where these tokens can be traded.


Mohammad Raafi Hossain, is CEO of Fasset


Dalal Buhejji, director of Business Development, Financial Services at Bahrain Economic Development Board (EDB) said: “As disruptive technologies transform industries around the world, investment in innovation is a key enabler and driver of economic growth.

Bahrain’s forward -thinking regulatory approach provides an attractive environment for FinTech companies to reap the benefits of our agile economy, availability of the most skilled and diverse workforces and the best value operating costs in the region.

We are delighted to welcome Fasset to Bahrain and we look forward to welcoming many more FinTech companies.”

Aziz Zainuddin, Fasset chief product officer, added: “The CBB granting us this authorisation is proof of the progress the Ethereum developer community has made to earn the trust of regulators worldwide.

Moreover, it is testament to the pioneering and pro-innovation spirit of Bahrain, where ideas for tackling the world’s most pressing issues based on even the most cutting edge technologies are given the opportunity to take flight.”

The former technology advisor to the UAE Prime Minister’s Office, Mohammad Raafi Hossain, is CEO of Fasset.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
×