Fasset expands into Pakistan with HRL alliance

By Vriti Gothi

US-founded digital banking and investment platform Fasset has planned to enter the Pakistani market through a partnership with Habib Rafiq Limited (HRL), aiming to expand access to digital investment products and strengthen financial inclusion in the country.

The partnership was unveiled at an event in Islamabad attended by senior government officials, business leaders, and representatives from the digital economy. Shaza Fatima Khawaja, Federal Minister for IT & Telecommunication, attended as chief guest alongside Jahanzaib Zahid, Vice Chairman of HRL Group, and Mohammad Raafi Hossain, CEO and co-founder of Fasset.

The collaboration is designed to connect global investors with Pakistan’s domestic asset base through digital infrastructure. Central to the initiative is the tokenisation of real-world assets, including access pathways to Pakistan’s estimated $1.5 trillion real estate and domestic asset market. By leveraging blockchain-enabled systems, the partners aim to facilitate cross-border capital flows and provide greater transparency for investors.

In addition to asset tokenisation, the partnership will focus on developing payout solutions tailored to Pakistan’s freelance workforce, ranked as the world’s fourth largest. The companies plan to introduce real-time, low-friction payment rails to enable freelancers to receive and manage earnings more efficiently, a move that aligns with broader efforts to formalise and digitise income streams within the gig economy.

The initiative also seeks to streamline foreign direct investment (FDI) into local projects by establishing digital channels for capital deployment. For Pakistan, where improving access to capital and expanding financial inclusion remain policy priorities, the development reflects a growing interest in blockchain-based financial infrastructure as a mechanism to attract overseas investment and diaspora capital.

Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, said, “Our mission is to enable 100 million people globally to own their wealth. Pakistan represents one of the most dynamic and high-potential markets, and this partnership with Habib Rafiq Limited will help connect global capital with Pakistani opportunity, ensuring that Pakistan’s digital workforce and domestic assets are accessible to the world.”

The partnership underscores a broader trend across emerging markets, where FinTech platforms are increasingly collaborating with established local enterprises to digitise asset ownership and facilitate cross-border capital flows. For Pakistan, the entry of an international digital asset platform signals continued momentum in the convergence of FinTech, infrastructure, and alternative investment models.