UK fintech Fasset to test blockchain solutions in Bahrain

The fintech company is the first in the world to receive the authorisation, and will attempt to address a $15trln sustainable infrastructure funding gap

Image used for illustrative purpose.

Image used for illustrative purpose.

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Blockchain platform company Fasset has received the first of its kind authorisation to test blockchain-based solutions in order to address a $15 trillion sustainable infrastructure funding gap.

The company will work in Bahrain’s FinTech Regulatory Sandbox to test solutions for the tokenisation of hard assets. 

Fasset has raised US$4.7 million in pre-seed investment from strategic backers in the UAE, Saudi Arabia, Bahrain, Kuwait, and Singapore.

The company said it aims to address climate change acceleration by bridging the sustainable infrastructure funding gap, estimated by the World Economic Forum to reach $15 trillion by 2040, using its Fasset Enterprise Platform (FEP) and Fasset Exchange (FEX).

Doing so will help increase investor exposure to assets that were previously illiquid, inaccessible, or had high barriers to entry, Fasset said in a press release.

(Writing by Imogen Lillywhite; editing by Anoop Menon)

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