Malaysia Takes Leap Forward in Digital Banking with Sharia-Compliant Model

Malaysia has made groundbreaking progress in the realm of digital banking by obtaining initial approval to launch a Sharia-compliant stablecoin-backed bank. This significant development, spearheaded by Fasset, was granted on October 7, 2025, marking a new era for the nation’s financial landscape and signaling a commitment to leveraging blockchain technology for asset-backed deposits, payments, checking accounts, and financing services.