Record-Breaking Investment: Fuze Paves the Way for MENA’s Digital Finance Future

10X Technology

Mokshita P.
10X Technology
Published:

Record-Breaking Investment: Fuze Paves the Way for MENA’s Digital Finance Future

Fuze provides infrastructure for banks and enterprises to offer regulated digital asset products. This groundbreaking seed round paves the way for a transformative shift in digital asset infrastructure across the MENA region, positioning it as a key player in the evolving landscape of digital finance.

Abu-Dhabi-headquartered Fuze, a digital asset infrastructure solutions, has received a seed round investment of US$14 million, making it the largest-ever seed investment in a digital assets startup in the Middle East and North Africa [MENA] region. This landmark investment was spearheaded by Further Ventures, based in Abu Dhabi, with participation from Liberty City Ventures in the United States. Fuze is set to leverage the strategic capital and extensive network of these investors, propelling its mission to construct the digital asset infrastructure that will shape the future of finance.

Fuze’s platform allows banks, fintech firms, and traditional enterprises to seamlessly offer regulated digital asset products through their native applications. It was founded by a team of seasoned experts in fintech, traditional finance [TradFi], and decentralised finance [DeFi].

With the MENA region’s digital asset market currently valued at US$566 billion and experiencing a robust 48 percent year-over-year growth, Mohammed Ali Yusuf, CEO and co-founder of Fuze, sees the Middle East as the ideal hub to establish a digital asset infrastructure enterprise. He stated, “We are excited to build the future of regulated financial infrastructure and digital assets out of the UAE. Regulations have played a pivotal role in propelling the UAE into a central position within the global Digital Assets industry.”

Further Ventures commented, “This is an important strategic investment into digital assets, one of our core verticals. The team at Fuze is highly experienced and has a clear vision to develop a trusted, world-class digital assets proposition. Technology that enables a range of stakeholders is vital for the future of the financial ecosystem, and Fuze is well placed to be a leader in digital assets across the MENA region and beyond.”

Founded in December 2022, Fuze was selected earlier this year to join Hub71, Abu Dhabi’s global tech ecosystem through its Company Building Program. Fuze’s white label solutions streamline the complexities of blockchain and regulatory compliance for enterprises, enabling them to readily offer digital assets, including stablecoins, cryptocurrencies, central bank digital currencies [CBDCs], and tokenised assets.

The funding secured will fuel Fuze’s growth as it obtains regulatory licensing, recruits key personnel, expands its technological capabilities, and accelerates its geographic throughout the region. Its product lineup, including Fuze Trader and Fuze Loyalty, empowers banks, brokerages, and superapps to provide digital asset products in a simple, secure, and trusted manner.

Ali Yusuf continued, “We are building a suite of products that addresses the growing demand for regulated digital asset capabilities through trusted channels. Our technology-first approach is a game-changer for the region and offers our customers a reliable bridge to the new era of investments and to the future of finance.”

Fuze’s groundbreaking seed round paves the way for a transformative shift in digital asset infrastructure across the MENA region, positioning it as a key player in the evolving landscape of digital finance.