Fuze raises $14M to put Middle Eastern banks on crypto

Abu Dhabi Capital of the United Arab Emirates

Abu Dhabi,
Capital of the United Arab Emirates – Credit: Shutterstock

Fuzea startup from United Arab Emirates which allows banks and fintechs to offer their customers regulatory-compliant crypto productshas just collected 14 million dollars from Further Ventures.

Based in Abu Dhabi, Fuze made its debut last year and offers white-label crypto services that “manage the complexities” of blockchain and comply with regulations for businesses, financial institutions and other fintechs.

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This Wednesday, the startup co-founded and led by Mohammed Ali Yusuf, a Checkout and Visa alumnus, announced that it had closed a 14 million round of financing led by Emirati fund Further Ventures. The American VC Liberty City Ventures has also put its hand in the pot, according to a press release.

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Technology that enables participation is vital to the future of the financial ecosystem, and Fuze is well positioned to be a leader in digital assets in the MENA region and beyond,” commented Further Ventures.

In detail, Fuze offers businesses the opportunity to offer crypto products to their customers through native applications.

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The startup was already supported by the ” Hub71+ Digital Assets “launched in early 2023 by Abu Dhabi. This is a $2 billion program to support web3 players based in the Gulf emirate.

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