Fasset and Ajman Bank have signed an MoU to launch integrated digital asset services that comply with Sharia principles. The rollout is aimed at both retail and institutional customers in the UAE and beyond, and is based on tokenized real-world assets, a regulated stablecoin framework and secure banking access.
Products and rails
Under the agreement, Ajman Bank will acquire Fasset’s infrastructure to offer tokenized RWAs such as Shariah-compliant ETFs and gold-backed financing.
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The plan includes deploying products that pass Islamic finance screening, a private institutional trading desk for blocks and program transactions, and stablecoin payment solutions to improve cross-border settlement speed and costs.
Compliance, Retention and Customer Protection
Fasset will provide end-to-end white-label components, i.e. secure wallet solutions, custody, transaction monitoring and embedded KYC and AML controls.
Ajman Bank will open separate cash accounts for customers in addition to operational accounts to meet UAE regulatory requirements and strengthen fund protection.
Why it matters for banks in UAE
The alliance positions a leading Islamic bank to bridge traditional banking and token financing under clear compliance controls.
By integrating blockchain into a Sharia-compliant business model, the partners aim to expand access to vetted RWAs, enable faster payments with stablecoin rails, and provide institutions with a regulated path to digital asset liquidity.
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