Latest news with #FuzePay
Khaleej Times
29-05-2025
- Business
- Khaleej Times
How Fuze is building the future of payments in the UAE
Powering next-gen payments with full compliance and zero compromise and transforming region's financial ecosystems Mohammed Ali Yusuf (Mo Ali Yusuf) is the CEO and co-founder of Fuze, which provides cutting-edge financial infrastructure for a range of institutions and enterprises. Recently, the business secured a new payment licence from the Central Bank of the United Arab Emirates, under its subsidiary FuzePay, a huge milestone for a company with ambitions to transform the region's financial ecosystems. This achievement marks the culmination of months of rigorous preparation, deep engagement with regulatory authorities, and a shared vision for the future of finance in the region. Why payments regulation matters Payments are one of the most highly regulated areas of financial services, simply because the movement of money from one party to another is critical for every organisation, business and customer. Each organisation looking to operate across payments must be approved, in the case of the UAE, this falls under the Central Bank's licencing remit of Retail Payment Services and Card Schemes (RPSCS). Recently, Fuze gained such a licence, ensuring we can add next-generation onshore payments to our suite of holistic financial infrastructure. This licence validates our approach and outlines the trust held in us by the regulator to serve the domestic financial community, opening legitimate use cases for onshore, compliant payments Without the appropriate regulation, payments would be a minefield of security breaches. However, the rigours of complying with payments regulations, here in the UAE and in the rest of the world means the status quo for financial services has often prevailed. Institutions have hesitated to innovate too far, in fear of non-compliance, but by sitting on the fence it has left gaps in user experience and money on the table for these financial organisations. Innovating towards a new world for payments We think differently - we believe that the future of money movement should be instant, intelligent and secure. The payments of the past should not power the future of finance. By deploying a proprietary, AI-powered technology stack, Fuze is able to offer fully regulated, onshore payment solutions with real-time transactions and settlements. It's fast and effective for businesses, improves operational efficiency and ultimately provides a better all-round experience when moving money. It's important to note too, that we are not just upgrading old legacy systems, we are finding new ways for technology to serve institutions, enterprises and merchants in a better fashion. One way we are improving the experience is in supporting virtual IBANs; this allows businesses to streamline and reconcile payments with efficiency, with faster processing times, reduced fees and increased control over transactions. Another aspect is that the next generation of finance will be programmable and automated. Rather than through manual intervention, fund flows will be automated, and errors minimised, ensuring the movement of capital is intelligent. Collaboration at the core Fuze's payments platform is 100 per cent built in-house and designed to support banks, fintechs, enterprises and governments that want to modernise how money moves, without relying on legacy systems or fragmented providers. Given our in-house capabilities, our payments platform is not based on rigid architecture, but agile and adaptable to evolving client needs and regulatory requirements. Recently, we secured a Series A funding round, backed by Galaxy and e& capital. Part of the latter's commitment to Fuze was in our ability to collaborate effectively with existing businesses – as Harrison Lung, group chief strategy officer at e& said; "There's a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay." We agree – there's a robust opportunity to collaborate towards successful financial services innovation. Another important way that differentiates Fuze from other payments providers is in our close work with the regulators. For example, in the UAE, we have aligned closely with the regulators to ensure our systems meet the highest standards of compliance and security, while offering the agility and scale that modern digital native institutions require. Innovation should never come at the expense of security or stability, and through collaboration we can ensure compliance is built-in from the very core. Financial transformation As the UAE continues its journey toward becoming a global financial and innovation hub, Fuze is proud to be building the infrastructure that will power this future; one payment, one partnership, and one breakthrough at a time. Our RPSCS payments licence doesn't just validate our model, it unlocks the future of finance. Fuze is keen to support national progress and financial transformation in line with the visions and strategies of regional governments and right now the UAE has all the tools, talent and regulatory environment to lead the world in building a secure, smart and inclusive financial ecosystem.
Mid East Info
01-05-2025
- Business
- Mid East Info
Fuze raises $12 million from Galaxy and e& Capital to scale its Digital Assets infrastructure - Middle East Business News and Information
Abu Dhabi, UAE and New York, USA –2025: Fuze, the Middle East and Turkey's fastest growing digital assets infrastructure firm, today announced the successful completion of a $12.2 million Series A funding round led by Galaxy (TSX: GLXY), a global leader in digital assets and data center infrastructure, and e& capital, the venture capital and investment arm of global technology group e& (ADX: EAND). Fuze provides Digital Assets-as-a-Service infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients, as well as an Over-The-Counter (OTC) trading desk. In addition, Fuze has now launched a full suite of stablecoin infrastructure products and recently announced its expansion, through FuzePay, into payments. The Series A investment will fuel Fuze's regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring. Mo Ali Yusuf, CEO and Co-Founder at Fuze, stated, 'Strategically, Galaxy's comprehensive digital asset capabilities and e&'s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption. We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.' Leon Marshall, CEO of Galaxy Europe, added, ' We are thrilled to partner with Fuze and lead this Series A round. The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.' Fuze has been championed from the beginning by Further Ventures, an ADQ-backed venture builder and investment firm. Mohamed Hamdy, Managing Partner at Further Ventures said, 'This fundraising round marks an important milestone for Fuze, a company that Further Ventures backed since inception. We're proud to welcome leading global investors – including Galaxy, e& Capital, and others – to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.' Harrison Lung, Group Chief Strategy Officer e&, said 'With our investment in Fuze, we're excited to align with a team that's setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like. There's a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.' Since launching in 2023, Fuze has worked closely with global regulators to ensure compliant digital asset services and partnered with leading financial institutions. In the last year, the business has processed over $2 billion in total digital assets volume through their Digital-Assets-as-a-Service platform, stablecoin infrastructure, and OTC. About Fuze: Fuze is MENA's first-of-its-kind regulated digital assets infrastructure provider, offering financial institutions and businesses cutting-edge tools to integrate digital asset services securely and efficiently. Driven by a solutions-based approach, Fuze helps financial services providers to strategise, organise and implement digital assets infrastructure and quickly, securely launch regulated, world-class products across wealth and payments. Fuze was founded by an expert team of fintech, traditional finance (TradFi) and decentralized finance (DeFi) leaders, with its co-founders holding extensive knowledge from experience in global hypergrowth businesses: the CEO, Mohammed Ali Yusuf (Mo Ali Yusuf) has held prominent roles at and Visa; Arpit Mehta (COO) was previously in the leadership team at fintech leaders like Simpl and Clear; Srijan Shetty (CTO) built algorithmic trading systems at Goldman Sachs and worked at tech leader Microsoft. Fuze offers a Digital-Assets-as-a-Service infrastructure platform which enables banks and fintechs to embed regulated digital assets products in a B2B2C fashion. Additionally, Fuze provides an Over-The-Counter (OTC) service that supports institutions, funds, and HNIs (high-net-worth individuals) in executing large digital asset trades securely and efficiently. About Galaxy: Galaxy (TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. About e& capital: e& capital is the venture capital and investment arm of e& that invests in the ideas and people that will build a better and brighter digital future. It supports innovative tech businesses, helping them to grow and enabling significant advances that move the world forward. e& capital invests in startups that dare to disrupt and challenge how things are done because they believe in something better. It works with brave entrepreneurs to turn their big ideas into tomorrow's leading companies. e& capital will use its deep investment and venture capital expertise to transform all technology sectors, with a focus on fintech, gaming, small and medium-sized businesses (SMB), software as a service (SaaS), HealthTech, EdTech, artificial intelligence (AI), machine learning (ML), and Web 3.0.
Wamda
01-05-2025
- Business
- Wamda
Fuze closes $12.2 million Series A to power digital asset infrastructure
UAE-based fintech Fuze has raised $12.2 million in a Series A funding round led by Galaxy and e& capital, with participation from Further Ventures. Founded in 2023 by Mo Ali Yusuf, Arpit Mehta, and Srijan Shetty, Fuze offers Digital Assets as a Service, OTC trading, and stablecoin infrastructure, having processed over $2 billion in digital assets volume to date. The funding will accelerate Fuze's regional and global expansion, product development, and hiring, positioning the company as a leading enabler of regulated crypto and stablecoin adoption for banks, fintechs, and enterprises in the region. Press release: Fuze, the Middle East and Turkey's fastest-growing digital assets infrastructure firm, today announced the successful completion of a $12.2 million Series A funding round led by Galaxy (TSX: GLXY), a global leader in digital assets and data centre infrastructure, and e& capital, the venture capital and investment arm of global technology group e& (ADX: EAND). Fuze provides Digital Assets-as-a-Service infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients, as well as an Over-The-Counter (OTC) trading desk. In addition, Fuze has now launched a full suite of stablecoin infrastructure products and recently announced its expansion, through FuzePay, into payments. The Series A investment will fuel Fuze's regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring. Mo Ali Yusuf, CEO and Co-Founder at Fuze, stated, 'Strategically, Galaxy's comprehensive digital asset capabilities and e&'s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption. We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.' Leon Marshall, CEO of Galaxy Europe, added, 'We are thrilled to partner with Fuze and lead this Series A round. The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.' Fuze has been championed from the beginning by Further Ventures, an ADQ-backed venture builder and investment firm. Mohamed Hamdy, Managing Partner at Further Ventures, said, 'This fundraising round marks an important milestone for Fuze, a company that Further Ventures has backed since inception. We're proud to welcome leading global investors – including Galaxy, e& Capital, and others – to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.' Harrison Lung, Group Chief Strategy Officer at e&, said, 'With our investment in Fuze, we're excited to align with a team that's setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like. There's a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.' Since launching in 2023, Fuze has worked closely with global regulators to ensure compliant digital asset services and partnered with leading financial institutions. In the last year, the business has processed over $2 billion in total digital asset volume through their Digital Assets as a Service platform, stablecoin infrastructure, and OTC.
Zawya
01-05-2025
- Business
- Zawya
Fuze raises $12mln from Galaxy and e& Capital to scale its Digital Assets infrastructure across MENA and Turkey
Abu Dhabi, UAE and New York, USA: Fuze, the Middle East and Turkey's fastest growing digital assets infrastructure firm, today announced the successful completion of a $12.2 million Series A funding round led by Galaxy (TSX: GLXY), a global leader in digital assets and data center infrastructure, and e& capital, the venture capital and investment arm of global technology group e& (ADX: EAND). Fuze provides Digital Assets-as-a-Service infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients, as well as an Over-The-Counter (OTC) trading desk. In addition, Fuze has now launched a full suite of stablecoin infrastructure products and recently announced its expansion, through FuzePay, into payments. The Series A investment will fuel Fuze's regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring. Mo Ali Yusuf, CEO and Co-Founder at Fuze, stated, 'Strategically, Galaxy's comprehensive digital asset capabilities and e&'s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption. We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.' Leon Marshall, CEO of Galaxy Europe, added, ' We are thrilled to partner with Fuze and lead this Series A round. The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.' Fuze has been championed from the beginning by Further Ventures, an ADQ-backed venture builder and investment firm. Mohamed Hamdy, Managing Partner at Further Ventures said, 'This fundraising round marks an important milestone for Fuze, a company that Further Ventures backed since inception. We're proud to welcome leading global investors - including Galaxy, e& Capital, and others - to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.' Harrison Lung, Group Chief Strategy Officer e&, said 'With our investment in Fuze, we're excited to align with a team that's setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like. There's a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.' Since launching in 2023, Fuze has worked closely with global regulators to ensure compliant digital asset services and partnered with leading financial institutions. In the last year, the business has processed over $2 billion in total digital assets volume through their Digital-Assets-as-a-Service platform, stablecoin infrastructure, and OTC. About Fuze: Fuze is MENA's first-of-its-kind regulated digital assets infrastructure provider, offering financial institutions and businesses cutting-edge tools to integrate digital asset services securely and efficiently. Driven by a solutions-based approach, Fuze helps financial services providers to strategise, organise and implement digital assets infrastructure and quickly, securely launch regulated, world-class products across wealth and payments. Fuze was founded by an expert team of fintech, traditional finance (TradFi) and decentralized finance (DeFi) leaders, with its co-founders holding extensive knowledge from experience in global hypergrowth businesses: the CEO, Mohammed Ali Yusuf (Mo Ali Yusuf) has held prominent roles at and Visa; Arpit Mehta (COO) was previously in the leadership team at fintech leaders like Simpl and Clear; Srijan Shetty (CTO) built algorithmic trading systems at Goldman Sachs and worked at tech leader Microsoft. Fuze offers a Digital-Assets-as-a-Service infrastructure platform which enables banks and fintechs to embed regulated digital assets products in a B2B2C fashion. Additionally, Fuze provides an Over-The-Counter (OTC) service that supports institutions, funds, and HNIs (high-net-worth individuals) in executing large digital asset trades securely and efficiently. About Galaxy Galaxy (TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Additional information about Galaxy's businesses and products is available on About e& capital e& capital is the venture capital and investment arm of e& that invests in the ideas and people that will build a better and brighter digital future. It supports innovative tech businesses, helping them to grow and enabling significant advances that move the world forward. e& capital invests in startups that dare to disrupt and challenge how things are done because they believe in something better. It works with brave entrepreneurs to turn their big ideas into tomorrow's leading companies. e& capital will use its deep investment and venture capital expertise to transform all technology sectors, with a focus on fintech, gaming, small and medium-sized businesses (SMB), software as a service (SaaS), HealthTech, EdTech, artificial intelligence (AI), machine learning (ML), and Web 3.0. Its vision is to stimulate the technology investment ecosystem in the region through strategic partnerships and collaborations with global and regional venture capitalists
