Bloomberg has reported that Fasset, a digital asset trading platform, has just raised $22 million in a Series A funding round.
The round has been led by Liberty City venture capital companies Ventures and Fatima Gobi Ventures. The latter is focused on Pakistani startups. Funding has also been provided by Soma Capital, MyAsiaVC and other companies.
The money will be used to develop new products, as well as to expand in Indonesia and Pakistan. The startup is negotiating with regulators to launch services in the specified regions.
Mohammad Raafi Hossain, co-founder of the startup, has said:
“We are working with some of the most prominent Islamic financial lawyers and opinion leaders to advance the message to the masses on how Muslims can interact with the emerging asset class in in accordance with Sharia law.”
In November 2021, the National Religious Council of Indonesia declared them haram, which means that they are forbidden for devout Muslims.
