Fasset FAQ: licences, fees, card, accounts and support

Question 1

Is Fasset regulated?

Accepted Answer

Yes, one Fasset company holds a licence that you can check. Fasset FZE is licensed by the Virtual Assets Regulatory Authority (VARA) in Dubai for Broker-Dealer Services: VASP Licence VL/23/07/002, issued on 30 November 2023 and shown as Active on the VARA public register. The status of the other group companies is still to be confirmed. See Fasset licences and regulatory disclosures.

Question 2

Is Fasset a bank?

Accepted Answer

No. Fasset is a money app, not a bank, and no Fasset company states a banking licence on fasset.com. A balance in the app is not a bank deposit and is not covered by a deposit guarantee scheme. The USD account gives you account details for receiving dollars, but it is not a bank account. Who provides what is set out on the page about Fasset and its legal entities.

Question 3

Is Fasset legit?

Accepted Answer

Fasset FZE is a real company with an active licence, and you can check that yourself rather than rely on reviews. Open the VARA public register, find Fasset FZE and match the reference VL/23/07/002, the activity Broker-Dealer Services and the status Active. Then make sure you are on fasset.com or in one of the two official app listings. The licence covers one company and one activity, not every product: see the licence details for each Fasset company.

Question 4

Which Fasset company am I dealing with?

Accepted Answer

It depends on the service and on where you live. Fasset FZE, the Dubai company with VARA licence VL/23/07/002, buys and sells virtual assets for clients in or from Dubai. Fasset Labuan Limited provides the Fasset Card and is the contracting party in the global user agreement. The agreement you accept in the app names your contracting company, and the Fasset terms of use say which one applies.

Question 5

How do I open a Fasset account?

Accepted Answer

You open a Fasset account in the app. Install it from the App Store or Google Play, sign up, verify your identity and add funds once the account is approved. How long approval takes is not published, so allow for an identity check before you can move money. Start on the page where you can download the Fasset app from its two official listings.

Question 6

What documents do I need?

Accepted Answer

Fasset does not list the accepted documents on fasset.com, so check in the app before you start. What is published is the vendor: the user agreement names Jumio for identity verification, and you should expect to verify your identity in the app. Never send identity documents to someone who contacts you first by email, chat or phone.

Question 7

Which countries are supported?

Accepted Answer

Fasset does not publish a list of supported countries, so ask support before you add funds. Two things are known. Fasset FZE's VARA licence covers Broker-Dealer Services carried on in or from Dubai. And Fasset states that some products are available only in selected countries, so a product you read about may not be offered where you live.

Question 8

What does Fasset charge?

Accepted Answer

Three charges are published for the products on offer today. The Fasset Card costs 9.99 USDT to issue, a dedicated USD IBAN costs $9.99 once and $0 a month, and a 0.35% FX fee applies when you send from the USD balance to an account in another currency. Incoming ACH payments are free. The retail fee for buying USDT is not published. Every number, with its source and date, is in the full fee schedule.

Question 9

Is there a monthly fee?

Accepted Answer

No monthly fee is published for the card or the USD account. The dedicated USD IBAN costs $9.99 once and $0 a month, and the Fasset Card has a one-time issuance fee of 9.99 USDT with no monthly charge listed. The invite-only Reserve card differs: the company publishes an annual fee for it. Both are covered on the page for Fasset fees and limits.

Question 10

What is the FX fee?

Accepted Answer

The FX fee is 0.35%. It applies when you send from the USD balance to an account in another currency, so a $1,000 send costs $3.50 before anything the receiving bank charges. Transfers between the Cash Wallet and the IBAN are free. The rate applied when you pay by card in a currency other than USD is not published.

Question 11

How do I get the Fasset Card?

Accepted Answer

You request the Fasset Card inside the Fasset app. It is a prepaid virtual Visa card: you pay the 9.99 USDT issuance fee once, top it up in USDT and spend in USD. Fasset Labuan Limited provides it. Which countries can hold the card is not published, so check in the app. Details are on the page for Fasset Card fees, limits and tiers.

Question 12

What is the daily card limit?

Accepted Answer

The daily spending limit is 2,000 USD. Top-ups and withdrawals back to the Fasset wallet run from 1 to 5,000 USDT per transaction, and neither carries a fee. The card is prepaid, so you can spend only what you have loaded onto it. Both limits were read on the Fasset Card page on 6 October 2026.

Question 13

Does the card work with Apple Pay and Google Pay?

Accepted Answer

Yes. The Fasset Card page lists both Apple Pay and Google Pay as supported, so you can add the virtual card to the wallet on your phone and pay where Visa is accepted. The card details appear in the app only after a biometric or PIN check, and you can freeze and unfreeze the card in the app instantly.

Question 14

How do I receive dollars?

Accepted Answer

You receive dollars through the Fasset USD account. It gives you account details in your own name, with a US routing and account number, and payments from US bank accounts arrive by ACH free of charge. A dedicated USD IBAN costs $9.99 once and $0 a month. It is not a bank account. The steps and the costs are on the page for the USD account for freelancers.

Question 15

Can I buy USDT with AED?

Accepted Answer

Yes, through Fasset FZE, the Dubai company that holds VARA licence VL/23/07/002 for Broker-Dealer Services. Fasset FZE's VARA licence covers Broker-Dealer Services carried on in or from Dubai. Whether Fasset FZE can serve residents of the other emirates, and on what basis, has not been confirmed. The steps, the limits and the gaps are on the page that explains how to buy USDT in the UAE with AED.

Question 16

Is my balance protected?

Accepted Answer

No protection scheme covers it. Fasset is not a bank, so a balance is not a bank deposit. USDT is a stablecoin issued by Tether. It isn't a bank deposit and isn't covered by a deposit guarantee scheme. You may lose the amounts you invest and your investments do not benefit from any form of financial protection. Fasset FZE says it protects client virtual assets with Fireblocks technology, which addresses theft, not a fall in value.

Question 17

Is Fasset Shariah-compliant?

Accepted Answer

Fasset publishes no Shariah certificate, so this site does not call it certified. What the company states is that all accounts, services and investments are delivered without interest, and its Shariah reports page labels 240 assets: 188 as Shariah compliant and 52 as not compliant. The page names no board, scholar, method or review date. Decide with a scholar you trust.

Question 18

Is crypto halal?

Accepted Answer

There is no single ruling. Scholars disagree, and the answer depends on the asset and on how it is used: some permit certain digital assets and others prohibit them. Our guide to whether crypto is halal sets out the main permitting and prohibiting rulings, the tests they apply and a way to screen a coin. It is information, not religious advice, so ask a scholar you trust before you act.

Question 19

Is Fasset safe?

Accepted Answer

No money app is free of risk, and Fasset is not a bank. What Fasset publishes is this: Fasset FZE states that it protects client virtual assets with Fireblocks multi-party computation (MPC) technology and hardware isolation, and the card can be frozen instantly in the app. No audit report or security certificate is published on fasset.com. The proof, row by row, is on the page about security at Fasset.

Question 20

How do I spot a fake Fasset message or site?

Accepted Answer

Anyone who asks for your password, your 2FA code or your recovery codes is not Fasset: Fasset never asks for them. Use only fasset.com and the two official app listings, App Store ID 1599893605 and Google Play package com.fasset.cashapp. Treat any other domain, app or social account that uses the name as unverified. If a message seems off, do not reply: write to help@fasset.com.

Question 21

How do I contact Fasset?

Accepted Answer

Use the help-centre request form or write to help@fasset.com, whether the app is not working or a payment looks wrong. Those are the two support channels published on fasset.com, and no general support phone number is published there. The office of Fasset FZE is at EO 09, Floor 13, Sheikh Rashid Tower, Dubai World Trade Center, Dubai, UAE. Response times are to be confirmed. See all the ways to contact Fasset support.

Question 22

How do I make a complaint?

Accepted Answer

Start with support, then put it in writing. Contact support through the help-centre form or help@fasset.com with your account email, the date and what went wrong. If the reply does not settle the matter, say in writing that you are making a formal complaint and ask for a written final response. The time limits for each stage are to be confirmed. The steps are on the page that explains how to make a complaint.