ORO Launches As First App Built On Fasset's L2 Network, Unlocking $1B Of Tokenized Gold On-Chain

(MENAFN- FinanceWire) Dubai, UAE, December 18th, 2024, FinanceWire

• $1 billion of yield-bearing Gold to be tokenized within the first year
• ORO is the first application built on Fasset's Ethereum Layer 2 network, Own
• Revolutionizes gold ownership with fractional, yield-generating tokens, DeFi composable, and 100 years of gold industry expertise.
• Waitlist now open; early access slated for Q1 2025.

Fasset , a digital asset platform focused on enhancing financial inclusion in high-growth markets, today announced the introduction of ORO, the first application built on its Ethereum Layer 2 network, Own , in partnership with The Own Foundation. Through tokenization, ORO users will be able to invest in smaller, more affordable increments of gold ($GOLD), leveraging blockchain's transparency, security, and yield-generation features-all with minimal fees and no storage costs.

Gold, long regarded as a reliable store of value, has gained renewed significance as a hedge against inflation and economic uncertainty. Since 2008, high-growth markets such as India have doubled their central bank gold reserves, underscoring the asset's appeal. However, traditional gold ownership remains costly and inaccessible for many, often involving high entry thresholds and complex storage requirements. ORO addresses these challenges by leveraging blockchain to offer secure, fractionalized ownership with minimal fees and no physical storage needs.

Each ORO token represents one ounce of 99.99% fine gold securely stored with blue-chip custodians and fully insured. Tokens can be redeemed for physical gold starting at $85 increments or exchanged for USDC for added liquidity. Moreover, ORO offers a highly competitive financial opportunity by combining gold's historical appreciation-averaging around 8% annually-with a 3-4% APY earned through staking $GOLD on the platform. This potential total yield of approximately 12% significantly outpaces traditional savings accounts, which typically offer returns of just 3-4%, and provides a better alternative to conventional gold investments.

Joining the waitlist ensures early access to product updates, beta testing opportunities, and potential rewards ahead of ORO's full 2025 launch.

ORO was founded by Usman Saleem , a member of the ARY family, renowned for their century-long expertise and leadership in the gold industry in the UAE and beyond. Building on this heritage, Saleem launched ORO to expand access to gold investments, combining trusted industry knowledge with blockchain-powered financial solutions.

Own is managed through The Own Foundation, which is powering Fasset's mission to expand access to decentralized finance globally, lower costs, and enhance scalability while ensuring compliance in key markets. Founders Mohammad Raafi Hossain and Daniel Ahmed-both immigrants inspired by blockchain's potential-created Own to address challenges like inflation, remittance costs, and limited financial access.

Since its launch, Own has focused on supporting applications that drive financial inclusion, with ORO serving as its flagship project. Future plans for Own include expanding into other decentralized assets, including stocks and bonds, collectibles and artwork, and real estate, to deepen its impact.

Founded in 2019, Fasset is a digital asset platform focused on bringing financial inclusion to emerging markets. Backed by $26.7 million in funding, Fasset operates under regulatory approvals in the UAE, Indonesia, Turkey, Malaysia, the EU, Pakistan, and more. With a focus on Muslim-majority markets, its mission is to provide secure, compliant, and innovative pathways for individuals and businesses to invest and grow wealth through blockchain-enabled solutions.

• Users can join the ORO waitlist: at
• Users can learn more about Own: and Fasset:

About Fasset

Fasset is a digital asset platform focused on enhancing financial inclusion in emerging markets, enabling individuals and businesses to securely invest from anywhere in the world. In 2024, Fasset introduced Own, its Ethereum Layer 2, designed to expand access to decentralized finance globally.

About Own Foundation

The Own Foundation is on a mission to enable 30 million asset owners on the blockchain by 2030. Founded in 2024, The Own Foundation manages the interests of all Own token holders as it works to democratize access to real-world assets in emerging markets.

About ORO

ORO is a regulated tokenized gold protocol creating an on-chain ecosystem for investing, trading, and borrowing, combining gold's stability with the efficiency and composability of decentralized finance.

Founded in 2024 by Usman Saleem and Juan Marchetto, ORO leverages decades of gold market expertise to provide secure, transparent access to gold-backed digital assets. Its first product, a yield-bearing gold token, will launch in early 2025.

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