Fasset to Launch Pakistan’s First Tokenized Gold Solution

ISLAMABAD: Fasset, a global digital asset platform has secured a license to launch Pakistan’s First Tokenized Gold Solution.

Securities and Exchange Commission of Pakistan (SECP) has granted a Regulatory Sandbox license to launch Pakistan’s first gold tokenization.

Fasset is leveraging blockchain technology in fractionalized investments in physical gold.

It will empower Pakistanis across all income levels to own fractions of gold and benefit from its historic stability and value.

The introduction of tokenized gold is going to mark a major milestone for Pakistan’s financial ecosystem.

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Amid economic challenges of high inflation and a depreciating currency, gold remains a trusted hedge against economic uncertainty.

And, traditional methods of investing in gold have not often in reach of many due to high upfront costs and risks associated with physical storage, and limited accessibility.

Fasset’s gold tokenization solution is going to directly addresses these barriers and will allow individuals to invest in micro-units of gold that will start with as little as 100 PKR.

By using blockchain technology, each transaction will be fully auditable and secure. It will significantly reduce risks of fraud and enhancing regulatory transparency.

The company has rolled out new service under SECP’s Regulatory Sandbox framework.

It will undergo live testing to validate its operational processes, user experience, and scalability before expanding its reach nationwide.

The users can register accounts on Fasset’s platform through secure KYC verification. They can deposit funds, purchase gold tokens backed 1:1 by physical gold.

They can also track their investments in real-time, and even convert their digital holdings into physical gold once a specified threshold is met, with delivery managed by trusted local partners.

Mohammad Raafi Hossain, CEO and Co-Founder of Fasset there mission has always been to democratize access to wealth-building tools.

By launching Pakistan’s first gold tokenization solution, he said they were going to give people a safe, transparent, and affordable way to invest in one of the world’s most trusted stores of value.