Fasset’s Labuan Approval May Enable USDC-Backed Shariah-Compliant Digital Banking for Asia and Africa

Fasset has received a Labuan FSA provisional license to launch a stablecoin-powered Islamic digital bank , enabling Shariah-compliant deposits, zero-interest accounts and cross-border payments targeted at underserved markets in Asia and ￰0￱ FSA provisional license enables regulated Shariah-compliant banking sandbox Fasset will offer deposit-taking, zero-interest accounts, cross-border payments and crypto debit ￰1￱ serves 500,000 users in 125 countries and plans an Ethereum L2 for real-world asset ￰2￱ Islamic digital bank: Labuan FSA provisional license enables stablecoin-powered Shariah banking for Asia and Africa—learn services, timeline and how to access them. , "description": "Fasset received a provisional Labuan FSA license to operate a stablecoin-powered Islamic digital bank offering Shariah-compliant deposits, zero-interest accounts and cross-border payments targeting Asia and Africa." , Fasset has received a provisional license from the Labuan Financial Services Authority to operate a stablecoin-powered, Shariah-compliant digital bank aimed at underserved users across Asia and ￰3￱ is the Fasset Islamic digital bank?

Fasset Islamic digital bank is a Labuan FSA-sanctioned, stablecoin-driven financial offering that combines Shariah-compliant deposit and payment services with digital savings and investment ￰4￱ sandbox license covers regulated, zero-interest accounts, deposit-taking and cross-border stablecoin payments for users in targeted ￰5￱ does the Labuan FSA license enable stablecoin banking? The provisional license permits Fasset to operate within the Labuan International Business and Financial Centre under a regulated sandbox ￰6￱ enables the firm to store customer funds, facilitate cross-border transfers using stablecoins and pilot zero-interest banking while complying with Labuan FSA ￰7￱ currently serves approximately 500,000 users across 125 countries and will leverage that user base to test Shariah-compliant products in the sandbox, aligning fintech innovation with regulatory ￰8￱ services will the Islamic digital bank offer?

Under the provisional authorization, Fasset plans to provide: deposit-taking accounts structured to avoid riba (interest), cross-border payments using stablecoins, digital savings and yield products that adhere to Shariah principles, and investment access to US stocks, gold and approved ￰9￱ firm also intends to issue a crypto debit card for daily spending and to launch “Own,” an Ethereum layer-2 built on Arbitrum for settling real-world asset ￰10￱ teased new announcements ahead of its recent license.), limits excessive uncertainty (gharar) and excludes investments in prohibited ￰11￱ will structure products—such as zero-interest accounts and halal investment vehicles—to meet these requirements under Shariah ￰12￱ will services be available to customers?

Services will launch in phases inside the Labuan sandbox following regulatory approvals and pilot ￰13￱ has licensed activities in multiple jurisdictions, and rollout timing will depend on sandbox performance and additional ￰14￱ Takeaways Regulated sandbox: The Labuan FSA provisional license allows Fasset to test Shariah-compliant banking within the Labuan ￰15￱ payments: Fasset will use stablecoins to enable cross-border transfers and low-cost ￰16￱ roadmap: Zero-interest deposits, crypto debit card and an Ethereum L2 for real-world assets are ￰17￱ Fasset’s Labuan FSA provisional license marks a notable step toward regulated, stablecoin-powered Islamic banking targeted at underserved regions in Asia and ￰18￱ combining Shariah governance with stablecoin rails and digital banking services, the firm aims to expand access to halal financial products while operating under regulatory ￰19￱ for phased rollouts and sandbox results to measure adoption and compliance outcomes.