Fasset has announced the launch of its second flagship product, the Fasset Exchange (FEX). 

Available to both retail and institutional investors in the countries of the Gulf Cooperation Council (GCC), the FEX will offer 0% trading fees and sign-up rewards, and aims to improve the accessibility of the digital asset space and infrastructure investment market in the Middle East. 

Signups for the FEX’s private beta are now available, with a full public launch scheduled for later this year, followed by a roll-out in the rest of the MENASA region over the following two years. 

Fasset says the FEX will provide near-instant access and liquidity for both real asset-backed tokens – like gold-backed tokens or tokenised sustainable infrastructure projects – and major cryptocurrencies like BTC, ETH, and USDT. 

Discussing the new exchange, Fasset Chief Executive Officer and former Technology Advisor to the UAE Prime Minister’s Office, Mohammad Raafi Hossain, said:

“While the last decade has seen a rise in cryptocurrency usage, persisting complexities—from trading to payments systems—hinder true mass adoption. In addition, the volatility and high-risk nature of digital assets makes the asset class unapproachable for the majority of investors as investors are unable to gauge their value. 

“To date, accessing digital assets—whether cryptocurrencies or real asset-backed tokens—in the MENASA region has been an onerous process. The industry lacks competition and, as a result, local exchanges have maintained an opaque, and often expensive, fee structure and operating model—resulting in high barriers to entry and limited choices for investors. 

“FEX brings to the GCC the accessibility, variety, and ease of use which increasingly characterises digital asset markets elsewhere in the world. It is our belief that every investor should have a healthy, risk-assessed allocation in digital assets. As such, we look forward to offering investors and asset owners across MENASA convenience and true diversification like they’ve never seen before.”

Fasset was founded in early 2019 by a group of international technologists. Earlier this year, the company launched its first flagship product – the Fasset Enterprise Platform (FEP) – using blockchain technology to fractionalise large, previously illiquid assets, offering fractional ownership of these digital “pieces.”

To-date the company has raised over $4.7M USD from strategic backers from the UAE, Saudi Arabia, Bahrain, Kuwait, and Singapore. 

AYO.NEWS says:

Though some Middle Eastern countries like, such as Qatar, have been openly hostile to virtual assets and cryptocurrencies, others like the UAE and Bahrain, have shown significant interest in blockchain technology, especially in terms of smart cities and infrastructure. Despite this, the region has lagged significantly when it comes to digital asset trading, so any platform that improves accessibility can only be a good thing for investors. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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