FASQON
FASQON
FASQON is a crypto neobank registered as a VASP in Portugal, focused on daily crypto payments, 5% cashback and no KYC up to €200. The project is still in development, however, backed by a limited $1.2M seed round, available only in the EU and without a confirmed launch date.
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | condiviso · EU |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | No |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| SEPA transfer | Free |
| Interest on balance | 0% |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Light |
| Supported countries | EEA · 30+ countries |
| Regulator | Banco de Portugal |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | VASP VASP Portugal (in corso) |
Plans & pricing
Strengths
- No KYC up to €200; 5% cashback; VASP Portugal; daily payments crypto.
- Light KYC: minimal identity verification.
Weaknesses
- In sviluppo; $1,2M seed limited; only EU.
- Custodial: the platform holds your funds and can freeze or lose them.
- Subject to regulation (VASP Portugal (in corso)): reporting to authorities and freezes on order.
Verdict
The low rating fits the project's state: a Portuguese VASP still in progress, a limited $1.2M seed, EU-only and no confirmed launch date. The no-KYC-up-to-€200 and 5% cashback look attractive on paper, but on a custodial product still in development and without a deposit guarantee, user protection is still theoretical.
It is the more interesting case through this lens among the custodial ones, because no KYC up to €200 cuts the identity friction for small payments. Still, it remains custodial, so funds are not in the user's hands: the privacy opening does not translate into real self-custody.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is FASQON a real bank?
FASQON is a digital financial service. The deposit-protection scheme is not documented for this service; check the official terms.
Can I send transfers to third-party IBANs with FASQON?
The ability to send transfers to third-party IBANs is not documented; check the official website.
Does FASQON support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does FASQON support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not documented.
Can I withdraw crypto on-chain from FASQON?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework · Founders · IBAN countries · +6 Data verified on Jun 15, 2026
- financialcontent.com Data verified on Jul 16, 2026
- icoannouncement.io Cashback · Latest funding round Data verified on Jun 14, 2026
- prospeo.io Valuation Data verified on Jun 14, 2026