After Securing License in Bahrain, Fasset to Target High-Growth Markets

The Central Bank of Bahrain (CBB) has officially granted Fasset Financial Services a licence to offer crypto-asset trading services within the kingdom, which marks another step forward in Bahrain’s efforts to establish itself as a leader in the fintech and digital asset space.

Abdulla Haji, Director of the Licensing Directorate at CBB, expressed the bank’s commitment to fostering a strong regulatory framework for digital assets. “We are pleased to announce the issuance of a licence to a new crypto asset service provider in the Kingdom of Bahrain, marking our continuous commitment to fostering a robust and progressive regulatory environment. This reflects CBB’s continued efforts to create a secure and transparent ecosystem for businesses and investors in the digital asset space, in addition to the increased appetite for crypto-services regionally and globally,” he said.

Haji emphasized that by maintaining high standards of compliance and innovation, the CBB aims to strengthen Bahrain’s position as a regional leader in financial technology.

Mohamed Sabra, General Manager and Board Member at Fasset Financial Services, also highlighted the significance of this milestone for the company. “We are honored to receive this licence from the Central Bank of Bahrain, marking a significant milestone in our mission to democratize access to digital assets in the region. This approval underscores Bahrain’s progressive stance towards fintech innovation and reinforces our commitment to providing secure and compliant digital asset products,” Sabra said.

He added that Fasset is eager to contribute to Bahrain’s growing digital economy and support its vision for leadership in financial innovation.

Moreover, Daniel Ahmed, COO and Co-Founder at Fasset Financial Services, shared with UNLOCK Blockchain, “Securing this licence from the Central Bank of Bahrain is a pivotal achievement for Fasset. It not only underscores our dedication to democratizing access to digital assets but also amplifies our extensive reach in high-growth markets. With regulatory approvals spanning the UAE, Indonesia, Malaysia, Turkey, and Pakistan, this Bahraini licence further solidifies our commitment to providing secure and compliant digital asset solutions across the region. We are eager to contribute to Bahrain’s dynamic digital economy and support its vision for continued leadership in financial innovation.”

It is worth noting that the new licence reflects Bahrain’s progressive approach to fintech regulation and the kingdom’s dedication to creating a secure, transparent environment for digital asset businesses and investors.