Cryptocurrency platform Fasset secures $22m Series A funding
Summary
Fasset, a platform that enables cryptocurrency trading, raised $22 million in a Series A funding round that it will use to develop new products and expand its digital asset-driven remittance services in Asia. The funding comes a day after the financial technology company said it had received authorisation to expand its operations in the EU, which will allow it to connect the remittance corridors of the global diaspora to their home markets. Digital asset-driven remittance corridors can unleash a new wave of socioeconomic prosperity through unique product offerings that we’re diligently building,” said Mr Hossain, a former adviser to the UAE Prime Minister’s Office. Digital assets – including cryptocurrencies and, more recently, non-fungible tokens (NFTs) – have grown in popularity thanks to the rise of several exchanges, leading to increased competition to attract more users to a financial technology that is becoming more mainstream. Aside from product and market expansion, Fasset plans to grow its workforce and aims to double its headcount by the end of this year.