In a recent blog post written by Bahrain based Fasset crypto asset exchange which is in the midst of receiving a license from the Central Bank of Bahrain, with a registered headquarter in the United Kingdom, the company stated it was backed by Binance exchange one of the biggest global crypto exchanges.
This comes after Fasset Crypto exchange announced in October of 2020,that it had entered the Bahrain Fintech Sandbox and launched the first zero commission crypto exchange, while working on the first tokenization platform license from Bahrain as well. According to Crunchbase Fasset as a UK registered entity had raised 4.7 million USD in seed funding.
In a previous interview with UNLOCK Mr. Mohammad Raafi Hossain, Chief Executive Officer of Fasset Crypto Exchange stated, “ Fasset is proud to be part of Bahrain’ Central Bank Sandbox and is pleased that the regulator and Economic Development Board has understood and supported Fasset in both its tokenization license as well as secondary market exchange. As Hossain commented, “This hasn’t happened before to have a license for both a tokenization platform and a trading platform, and we see this as the future of tokenization projects.”
Jumping to 2021 Fasset in its recent blog post, writes“ Fasset is also backed by Binance, one of the largest and most recognized crypto exchanges globally. One of the great things about Fasset is its focus on simplicity: it has a simple interface that allows new users to navigate and buy crypto in UAE super easily . Since Fasset is backed by Binance’s deep liquidity pool, its users will have access to near-market prices and instant order execution. Do you know what this means? No hassle of paying unfair prices and waiting for hours for you to know whether your order is a done deal.”
UNLOCK spoke with Omar Rahim, Regional Manager for Binance in the MENA region who stated, ” “Binance serves clients across the globe, and is committed to providing the fastest and most secure platform on which to trade digital assets. We are always interested in speaking to regional clients who wish to benefit from Binance’s solutions to better serve their audiences.”
Although no press release or announcement has been made in this regards, the statement in the blog post is evidence of what seems to be a partnership of sorts. This is further backed up again on Fasset website where it mentions Binance as one of its partners.
UNLOCK reached out to CEO Mr. Hossain for clarification but to date of publication has received no feedback. Once feedback is provided we will update article accordingly.