The world of finance is undergoing a transformation, and Fasset, a UAE-based fintech platform, is at the forefront of this revolution with the launch of IOWN, a new Ethereum Layer 2 blockchain. This blockchain is designed to fundamentally reshape how Real World Assets (RWA) are owned and managed, particularly for people in emerging markets. By leveraging blockchain technology, Fasset aims to democratize access to assets such as real estate, commodities, and publicly traded securities. This move marks a pivotal moment in Fasset’s mission to create a more inclusive and accessible financial system for millions of users globally.
Backed by regulatory approval from Malaysia’s Labuan Financial Services Authority (Labuan FSA), IOWN is the first Ethereum Layer 2 blockchain to receive support from a government regulator. This regulatory backing not only provides legitimacy but also ensures the blockchain’s compliance with global standards, making it a secure and trustworthy platform for decentralized asset ownership. With the IOWN blockchain, users can interact with and manage their assets in a regulated environment while enjoying the benefits of blockchain’s transparency and security.
IOWN: A Blockchain Built for Real-World Assets
The IOWN blockchain is specifically designed to revolutionize real-world asset ownership by providing a platform where users can engage with various asset classes—ranging from real estate and commodities to stocks and bonds—in a safe, transparent, and decentralized environment. By bringing blockchain technology to traditional asset markets, Fasset is addressing long-standing challenges in asset ownership, such as high entry barriers, lack of transparency, and inefficiency.
IOWN’s strength lies in its regulatory compliance and its ability to meet the complex legal and operational requirements of various asset classes. Whether it’s navigating the legal framework for real estate ownership or complying with financial regulations for stock and bond transactions, IOWN ensures that users can invest in assets confidently. This regulatory foundation makes IOWN a robust and attractive option for users seeking to enter global markets without compromising on security or transparency.
Financial Inclusion Through IOWN
At the core of Fasset’s mission is the concept of financial inclusion. The IOWN blockchain is designed to democratize access to assets, particularly in emerging markets where traditional financial systems often exclude large segments of the population. By lowering the barriers to asset ownership, Fasset is enabling individuals from underserved regions to participate in wealth generation through tokenized assets.
Fasset’s vision is encapsulated in its ambitious “30 by 30” plan, which aims to create 30 million asset owners by the year 2030. The IOWN blockchain plays a crucial role in achieving this vision by providing a decentralized platform that is accessible to users regardless of their geographic or economic background. For individuals in countries such as Indonesia, Malaysia, Bangladesh, Pakistan, Türkiye, and the UAE, IOWN represents a gateway to financial empowerment through blockchain-based asset ownership.
How IOWN Facilitates Real World Asset Transactions
The IOWN blockchain is a game-changer in the real world asset (RWA) space. By integrating blockchain technology with traditional asset ownership models, IOWN enables users to tokenize their assets, making them easier to manage, trade, and secure. Each asset is represented by a digital token on the blockchain, which can be bought, sold, or transferred just like any cryptocurrency.
IOWN’s native token, also called IOWN, serves as the backbone of the ecosystem. It offers users several key advantages, including lower transaction fees, staking rewards, and greater governance control over the platform. Through staking and yield farming opportunities, token holders can earn returns on their investments, further incentivizing participation in the ecosystem.
One of the standout features of the IOWN blockchain is its ability to handle real-world transactions involving high-value assets, such as real estate. In the traditional financial system, these transactions are often slow, expensive, and complicated due to the number of intermediaries involved. With IOWN’s smart contracts, these processes become automated, reducing the need for intermediaries, speeding up transactions, and lowering costs. This makes it easier for individuals to buy, sell, or transfer assets in a transparent and secure manner.
Fasset’s Vision for IOWN: Empowering Emerging Markets
The recent launch of IOWN aligns with Fasset’s broader vision of promoting financial inclusion and asset democratization. By focusing on emerging markets, where access to traditional financial products is often limited, Fasset is empowering millions of individuals who have been historically excluded from wealth-building opportunities. The IOWN blockchain provides these users with the tools they need to participate in global markets, invest in assets, and generate long-term wealth.
At the recent MIFC event in London, Fasset’s CEO and Co-Founder, Mohammad Raafi Hossain, discussed the significance of IOWN in the context of financial inclusion. He highlighted that IOWN aims to provide the same opportunities that have traditionally been reserved for wealthy individuals to a broader audience, particularly in regions that have been underserved by the global financial system. By using blockchain technology, IOWN is making asset ownership more transparent, secure, and accessible.
Regulatory Compliance and the Role of Labuan FSA
One of the key differentiators of the IOWN blockchain is its regulatory compliance. The Labuan Financial Services Authority (Labuan FSA) has played a pivotal role in ensuring that IOWN meets the highest standards of security, transparency, and legal compliance. As the first Ethereum Layer 2 blockchain to receive regulatory backing, IOWN is positioned as a trusted platform for individuals and institutions looking to engage in real-world asset transactions.
Labuan, a leading hub for Islamic finance, also sees IOWN as a critical component in its broader strategy to integrate blockchain technology with Shariah-compliant finance. This collaboration aligns with Labuan’s mission to become a global center for digital financial innovation. The IOWN blockchain is expected to play a key role in advancing Islamic finance and expanding the range of Shariah-compliant blockchain products.
The Role of IDAC and Future Growth
In 2022, the Labuan Financial Services Authority launched the Islamic Digital Assets Center (IDAC), a platform focused on promoting Web3 technology and Islamic finance products. The IOWN blockchain is set to become the primary infrastructure for all Web3 projects emerging from IDAC, driving growth in Islamic finance and expanding the range of blockchain-based financial products available in this niche sector.
With the support of IDAC, the IOWN blockchain is well-positioned to lead the way in blockchain-based financial innovation. Fasset’s focus on compliance with both global and Islamic financial standards ensures that the platform will appeal to a broad range of users, from traditional investors to individuals looking for Shariah-compliant investment options.
A Bright Future for Fasset and IOWN
As Fasset continues to expand its presence in emerging markets, the launch of IOWN represents a critical milestone in its mission to revolutionize real-world asset ownership. The company’s strategic focus on financial inclusion, regulatory compliance, and blockchain innovation sets it apart as a leader in the fintech space.
With a robust licensing portfolio and a clear roadmap for future growth, Fasset is well-positioned to make IOWN a key player in the global financial ecosystem. As more individuals gain access to blockchain-based asset ownership, the platform will continue to drive innovation and expand its product offerings to meet the needs of a diverse and growing user base.
Fasset’s commitment to making real-world asset ownership more accessible, secure, and transparent will undoubtedly transform the financial landscape in emerging markets. Through IOWN, Fasset is laying the foundation for a more equitable and inclusive financial future, where individuals from all backgrounds can participate in wealth generation and enjoy the benefits of decentralized technology.
