In a groundbreaking move, Fasset, a prominent UAE-based digital asset platform, and Ajman Bank, a leading Islamic financial institution, have signed a Memorandum of Understanding (MoU) to introduce Shariah-compliant stablecoins and tokenized assets across the UAE. This collaboration marks a significant milestone in the evolution of Islamic finance, combining the reliability of a regulated Islamic bank with cutting-edge blockchain technology. Under the agreement, Ajman Bank will leverage Fasset’s comprehensive white-label solution to offer embedded digital asset capabilities to both retail and institutional clients. These offerings include access to tokenized real-world assets (RWAs) such as S&P Shariah ETFs, gold-backed financing, staking and savings products, and a private institutional trading desk. Additionally, the partnership will integrate stablecoin payment infrastructure to enhance cross-border efficiency. Fasset will develop the core infrastructure, including wallet solutions, KYC/B integrations, custody services, and regulatory compliance tools, to ensure secure and compliant operations. Mustafa Al Khalfawi, CEO of Ajman Bank, emphasized the partnership’s alignment with the institution’s values, stating that it enables customers to participate in the digital economy without compromising trust or principles. Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, highlighted the collaboration’s focus on meaningful integration, embedding tokenized finance into everyday banking to make wealth creation more accessible and ethical. This partnership underscores the growing demand for compliant and inclusive digital financial products in the UAE and the broader Islamic world, paving the way for a new era in the global financial ecosystem.
Fasset and Ajman Bank sign MoU to launch Shariah-compliant stablecoins and tokenised assets
