Fasset Expands Shariah-Compliant and Tokenized Finance Across the GCC with Ajman Bank and Skyro UAE Partnerships

Global fintech platform Fasset announced two landmark Memoranda of Understanding (MoUs) with Ajman Bank and Skyro UAE, marking major milestones in the evolution of digital and tokenized finance across the GCC region. The signing ceremonies took place during Future Blockchain Summit 2025 and GITEX Global 2025.

UAE-headquartered fintech platform Fasset has signed a Memorandum of Understanding (MoU) with Ajman Bank, one of the UAE’s leading Islamic financial institutions, to jointly introduce integrated and compliant virtual asset offerings across the region.

This strategic partnership marks a major step in the evolution of Islamic finance, merging the credibility of a regulated Islamic bank with Fasset’s innovative blockchain infrastructure. Through this collaboration, Ajman Bank will leverage Fasset’s end-to-end white-label solution to embed digital asset capabilities directly into its banking ecosystem for both retail and institutional clients.

Expanding Access to Tokenized Assets and Digital Finance

The partnership will enable seamless access to tokenized real-world assets (RWAs) — including S&P Shariah ETFs, gold-backed financing, staking, and savings products — alongside institutional-grade solutions such as a private trading desk and stablecoin payment infrastructure.

By combining trusted banking oversight with next-generation blockchain solutions, the two entities aim to bridge traditional finance and digital innovation, while maintaining full compliance with Shariah and UAE regulatory standards.

Beyond integrating Fasset’s technology stack, Ajman Bank will support the company’s broader financial operations, including operational and segregated client money accounts to ensure robust customer fund protection. This will enable Fasset to expand its institutional footprint within the UAE’s regulated environment.

“We believe that the next phase of financial innovation will be defined by meaningful integration, not just experimentation,” said Mohammad Raafi Hossain, CEO and Co-Founder of Fasset. “Through this partnership with Ajman Bank, we are building infrastructure that doesn’t just support tokenized finance but embeds it seamlessly into everyday banking, making wealth creation more accessible and ethical.” 

Building a Secure and Compliant Digital Asset Framework

Under the agreement, Fasset will design and implement the core digital infrastructure supporting Ajman Bank’s new offerings. This includes wallet infrastructure, integrated KYC/B solutions, custody frameworks, and regulatory-grade monitoring tools for enhanced transparency and security.

Additionally, stablecoin payment rails and institutional trading systems will be embedded to enhance cross-border payments, liquidity, and operational efficiency.

“This partnership is a reflection of our commitment to delivering future-ready financial services that remain true to our values,” said Mustafa Al Khalfawi, CEO of Ajman Bank. “By embedding digital asset solutions within a Shariah-compliant framework, we are expanding access to new forms of value creation and enabling customers to participate in the digital economy without compromising on trust or principles.” 

The Fasset–Ajman Bank partnership highlights growing regional demand for compliant and inclusive digital financial solutions across the UAE and the wider Islamic Belt. By combining blockchain technology with the trust and rigor of Islamic banking, both institutions are paving the way for a more transparent, ethical, and future-ready financial ecosystem.

Fasset Partners with Skyro UAE to Boost Cross-Border Payments

In addition to the partnership with Ajman Bank, Fasset has signed a MoU with Skyro UAE, a digital financial technology group, to drive innovation in cross-border financial services across the GCC. The agreement, signed at GITEX 2025, was formalized by Arsen Liametov, Co-Founder and Co-CEO of Skyro, and Daniel Ahmed, COO and Co-Founder of Fasset, with Skyro’s senior leadership in attendance.

Under the MoU, Skyro UAE and Fasset will develop retail international transfer solutions powered by stablecoins, enabling faster, more secure, and cost-efficient cross-border remittances. The collaboration will also explore avenues to develop and distribute tokenized assets, combining Skyro’s expertise in financial accessibility and lending platforms with Fasset’s blockchain and digital asset capabilities. Both parties will actively engage with regulators to ensure responsible and compliant innovation.

“Partnering with Skyro UAE enables us to further our shared goal of building inclusive and innovative financial ecosystems,” said Daniel Ahmed, COO and Co-Founder of Fasset. “Together, we aim to redefine how value moves across borders — using blockchain and tokenization to deliver secure, fast, and efficient financial services in the region.”

“We are grateful for our partnership with Fasset, as it marks an important step in strengthening our group’s fintech capabilities across the GCC,” added Roberto Mancone, CEO of Skyro GCC. “This partnership will allow us to explore new digital financial structures that align with our mission to make financial services more accessible to customers globally.”

Fasset Strengthens Team as Regional Presence Grows

As Fasset continues to expand its regulated presence across the Middle East, industry sources indicate that Mehtap Önder, former Managing Director of GCEX in Dubai, has joined Fasset. Önder recently appeared representing the company during a tokenization panel in Dubai, signaling her growing involvement in the firm’s operations.

With her background in brokerage, liquidity management, and digital asset regulation, Önder’s addition reflects Fasset’s ongoing efforts to attract experienced leaders as it builds out its multi-jurisdictional tokenization and payments infrastructure.