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Fasset

Boulevard Plaza, Tower 1, Office 2901, Dubai, United Arab Emirates

Overview

Fasset is the world’s first Islamic digital bank powered by blockchain. It enables people and businesses to save, invest, send and spend money at the tap of a button, from anywhere in the world. Backed by Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, myAsiaVC, Esas Ventures, Soma Capital and more.

Total investments
1
Lead investments
0
Investments · 12mo
0
Active investors
5

Sector focus

  • Asset Management
  • Blockchain
  • Cryptocurrency
  • Financial Services
  • FinTech
  • Web3
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Investment portfolio

  • ORO Labs

    Participated · Seed · Mar 2025

    ORO Labs offers a blockchain platform that tokenises physical gold on Solana, enabling holders to earn real yield, unlock liquidity through borrowing, and settle trades instantly. The company’s core technology leverages Solana’s high-speed, low-cost infrastructure to make gold more liquid and composable within both decentralised and traditional finance ecosystems. Led by Co-Founder & CEO Usman Saleem, ORO plans to roll out additional financial applications over the coming months that facilitate global transactions and yield opportunities for gold holders. A strategic partnership with Fasset will broaden retail and institutional access across the UAE, Malaysia, Bahrain, Indonesia, and Turkey via Fasset’s regulated infrastructure. ORO also intends to launch on Own, Fasset’s Layer-2 network, later this year. Beyond product expansion, the firm has signed an MOU to drive tokenised gold adoption and ensure regulatory compliance in the Gulf region and beyond. The recently secured capital positions ORO to deepen integrations with DeFi and TradFi, although no revenue or user figures have been disclosed.

Team

  • Mohammad Raafi Hossain

    Co-Founder and CEO

    LinkedIn
  • Mohammed AlSharaf

    Managing Director & Co Founder

    LinkedIn
  • Daniel Ahmed

    Co-founder & COO

    LinkedIn
  • Rafiza Ghazali

    Managing Director for Consumer Banking

    LinkedIn