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

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.

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.

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.

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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