UK’s Fasset gets Bahrain nod to test blockchain platform

UK’s Fasset gets Bahrain nod to test blockchain platform

UK-headquartered Fasset, a provider of blockchain-powered platforms for the financing of sustainable infrastructure, has received authorisation to test its solutions for the tokenisation of hard assets in Bahrain's FinTech Regulatory Sandbox.

The authorisation, issued by the Central Bank of Bahrain, is the first of its kind in the world. The company has raised some $4.7 million in pre-seed investment from strategic backers in the UAE, Saudi Arabia, Bahrain, Kuwait, and Singapore.

Fasset 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.

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Through its two flagship products – Fasset Enterprise Platform (FEP) and Fasset Exchange (FEX) – the company said it aims to increase investor exposure to assets that were previously illiquid, inaccessible, or had high