As tokenized real-world assets gain traction across global markets, Fasset is positioning itself at the forefront with the launch of Own, an Ethereum Layer 2 network purpose-built for regulated RWA distribution.
With plans to tokenize and offer access to over $1 billion in U.S. equities, including tech giants like Apple, Microsoft, and Nvidia, Fasset is targeting underserved investors worldwide.
In this Q&A, I spoke with with Fasset’s leadership about the technical design behind Own, regulatory strategies across jurisdictions, dividend mechanisms, and how tokenized stocks will interact with both TradFi and DeFi ecosystems.
Below is the Q&A with Raafi Hossain, CEO and co-founder of Fasset
- How is Own, your Ethereum Layer 2 built for real-world assets, technically structured to support the tokenization and distribution of $1 billion in U.S. equities? Does it build on existing rollups or use a proprietary design?
OWN is built on Arbitrum’s Layer 2 technology for security and lower costs, but we’ve added specific tools for handling real-world assets. This includes token standards with optional compliance features, verification systems for the underlying assets, and tools that make it easier to issue and manage these assets. For equities specifically, we’ve built modules to handle dividends and ownership verification – essentials that generic blockchains typically lack.
- What made 2025 the right moment for Fasset to enter the tokenized equities market at this scale, especially given the current global RWA market size and rising competition?
Three things converged: regulators in our key markets have provided clearer frameworks, the technology has matured enough to handle large-scale tokenization securely, and most importantly, we’ve confirmed substantial demand from our users, especially in emerging markets where U.S. equities are difficult to access.
- Why were MSTR, TSLA, NVDA, SPY, META, AAPL, GOOGL, MSFT, and AMZN selected as part of the initial set of tokenized equities? Was the selection based on liquidity, investor demand, market cap size, or another metric?
These are not the only ones we support. We have over 50 tokenized US equities. We’ve selected a curated set of globally recognized stocks and ETFs spanning technology, healthcare, consumer goods, energy, and thematic sectors. These assets are liquid, trusted, and represent strong long-term fundamentals. Our list also includes Shariah-compliant options and commodity ETFs to offer diversified, inclusive exposure aligned with our user base’s needs and values.
- Can you walk us through how Dinari’s dShares will be distributed and traded across the jurisdictions where Fasset holds regulatory licenses, particularly in the UAE, Indonesia, Malaysia, and Pakistan?
In each market where we operate – UAE, Indonesia, Malaysia, and Pakistan – we’ve built regulatory-compliant pathways for these assets. The UAE serves as our regional hub under our VARA license. In Indonesia, we work with local banks to provide rupiah on/off ramps under Bappebti requirements. For Malaysia and Pakistan, we’ve implemented the specific compliance requirements for each country.
All transactions settle on Own, but each jurisdiction has its own regulatory wrapper to ensure local compliance. This means users get the same economic exposure regardless of location, but with locally appropriate safeguards and protections.
For each jurisdiction, we are constantly monitoring and adapting to regulatory developments. Web3 is a rapidly evolving sector and the changes are fast-paced. As and when rules or regulations are implemented in each jurisdiction, we modify our approach in each market accordingly.
- Will token holders of dividend-paying stocks like MSFT, AAPL, or AMZN receive real-time or periodic payouts? How will those dividends be distributed technically and legally?
Yes. Token holders of dividend-paying stocks will receive dividend payouts, which are distributed in stablecoins. For users on the Fasset app, dividends are automatically credited to their in-app wallet. For users participating via DeFi, dividends must be manually claimed through the DEX interface. All dividend-paying stocks are backed 1:1 by real shares held in regulated custody (in case of Fasset) or in the user’s own wallet (Own network).
- What does the typical user journey look like for accessing and trading tokenized equities on Fasset, especially for users in high-growth markets? How are fiat on/off-ramps and local banking integrations being handled?
The user experience is straightforward:
- Complete a one-time KYC process in the Fasset app (about 5 minutes)
- Deposit local currency through familiar local payment methods including direct banking integration, Apple and Google Pay, transfers and credit/debit cards, e-wallets
- Buy tokenized equities with investments starting from $10
- Manage holdings, receive dividends, and access educational content
- Sell and withdraw to local currency anytime
The entire experience is designed to feel familiar to users accustomed to local financial apps, while providing access to global investment opportunities they couldn’t easily reach before. Our banking integrations are secured through regulated payment corridors in each jurisdiction, with appropriate licenses and partnerships already in place.
- Given MSTR’s strong correlation to Bitcoin and META’s focus on AI and metaverse, how are you preparing for tokenized equity demand that overlaps with key crypto and tech narratives?
Stocks like MSTR and META have become gateways to technology trends. People buy MSTR primarily as a way to get regulated Bitcoin exposure through the stock market, while META investors are often betting on future AI and metaverse potential, beyond their social media business.
We’re preparing by tokenizing a wide range of assets—stocks, funds, metals, commodities, and thematic investments—enabling users to build portfolios that reflect both technology conviction and long-term value. We’re also educating investors on the unique relationships and risks between direct crypto ownership and these stock alternatives.
This matters because emerging market investors often find it easier to access these technology trends through familiar, regulated stock offerings than through direct crypto ownership.
- Are there plans to enable these tokenized equities to interact with the DeFi ecosystem—for example, being used as collateral, earning yield, or integrated into staking or lending protocols?
By bringing real U.S. equities on-chain, we’re opening up entirely new possibilities for these assets. Developers will be able to integrate these tokenized stocks into DeFi applications—creating themed investment bundles, using them as collateral in lending markets, or incorporating them into yield-generating strategies.
Crucially, all DeFi interactions remain optional. Users can simply hold their tokenized stocks on our regulated platform if they prefer, or they can choose to put these assets to work in DeFi when they’re ready. This flexibility—providing both regulatory compliance and DeFi innovation in one ecosystem—is fundamental to our approach.
