Crypto infrastructure startup Fuze from the UAE obtains a license to expand its services into the realm of card payments
UAE-Based Fintech Company Fuze Expands Operations Across GCC
Fuze, a fintech company based in the United Arab Emirates (UAE), has announced its plans to expand its operations into Saudi Arabia, Qatar, and Kuwait, following the receipt of a Retail Payment Services and Card Schemes (RPSCS) license from the Central Bank of the UAE. This expansion comes after a successful $12.2 million Series A funding round aimed at powering Fuze’s digital asset infrastructure and growing its regional presence.
Initially focusing on digital assets, Fuze offers Crypto-as-a-Service products through its APIs. The company's infrastructure provides businesses with tools like virtual IBANs, AI-based fraud detection, and real-time settlements. With the new RPSCS license, Fuze is now equipped to offer retail payment services and card schemes, supporting its goal to process significant transaction volumes and drive adoption of digital asset payments across the Gulf Cooperation Council (GCC) region.
In addition to its digital asset services, Fuze also offers an Over-The-Counter (OTC) desk for large crypto trades, providing access to over 100 tokens, 24/7 trading, and real-time settlements. This service, coupled with the new license, enables Fuze to expand into traditional payments, enabling businesses to accept card payments.
Mo Ali Yusuf, co-founder and CEO of Fuze, stated that the new license marks a key step in the company's mission to provide digital and AI-enabled infrastructure for the future of finance and transform payments. He further added that the company aims to become a leading fintech infrastructure provider in MENA’s fast-growing payment landscape.
Fuze's APIs also allow banks, fintechs, and other platforms to embed crypto trading, loyalty programs, custody (secure storage of crypto), and lending into their apps, facilitating a smoother digital asset ecosystem in these markets. With the expansion, Fuze is poised to increase its footprint, improve payment services, and drive the adoption of digital assets across the GCC region.
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- Fuze, the UAE-based fintech firm with a focus on digital assets, aims to boost its regional presence in the Gulf Cooperation Council (GCC) by leveraging technology to process significant transaction volumes and drive the adoption of digital asset payments.
- Apart from its digital asset services, Fuze also intends to expand into traditional payments, enabling businesses to accept card payments, thanks to the new Retail Payment Services and Card Schemes (RPSCS) license from the Central Bank of the UAE.
