Fasset obtains Islamic digital bank license in Malaysia

Digital asset investment platform Fasset has secured a provisional banking license in Malaysia, paving the way for it to establish the world's first stablecoin-based Islamic digital bank, CoinDesk reported. The license allows Fasset to enter the country's Islamic fintech regulatory sandbox and expand its existing digital asset platform into the banking sector. The company aims to bring real-world asset (RWA) payments on-chain and broaden its services in the Islamic finance market through Own, a Layer 2 network built on Arbitrum (ARB).