Fasset and KOSDAQ-listed NEXUS have signed a memorandum of understanding (MoU) to explore stablecoin-based financial infrastructure.
The partnership will look at infrastructure for stablecoins linked to the UAE dirham (AED) and the Korean won (KRW).
NEXUS CEO Henry Chang signed the MoU with Fasset FZE at Korea Blockchain Week 2026 in Seoul on 30 September.
The companies will review three areas of cooperation, namely payment infrastructure integration, stablecoin settlement and co-branded digital financial products.
For payments, they plan a joint proof-of-concept (PoC) that links NEXUS’s payment infrastructure with Fasset’s system for converting fiat currency to and from digital assets.
A joint task force will handle the stablecoin side. Meeting quarterly, the group will set the direction of their work on AED- and KRW-linked stablecoin infrastructure.
“This partnership is about bringing any-to-any banking closer to reality: connecting payments, settlement and different financial rails so value can move more seamlessly across markets,”
said Mohammad Raafi Hossain, CEO of Fasset.
“This partnership connects Fasset’s global payment and settlement infrastructure to the ONE ecosystem. Together we will broaden the payment foundation for global expansion,”
said Henry Chang, CEO of NEXUS.
Headquartered in Dubai, Fasset runs a stablecoin-based digital finance platform. It obtained a virtual asset service provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) in 2023.
In August, the company raised a US$68 million Series C led by SBI Group at a US$1 billion valuation.
NEXUS is building infrastructure that links the distribution, payment and settlement of games and digital content through its ONE ecosystem.
After making app marketplace ONE Store a subsidiary in June, it is extending its fiat-based payment infrastructure to stablecoins.
Featured image: Edited by Fintech News UAE, based on image by Fasset via its Press Release.
