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Digital assets startup Fuze raises $14m in seed round

By Pramod Kumar
The Fuze team, from left: CTO Srijan Shetty, CEO Mohammed Ali Yusuf and COO Arpit Mehta Fuze
The Fuze team, from left: CTO Srijan Shetty, CEO Mohammed Ali Yusuf and COO Arpit Mehta

UAE digital assets provider Fuze has raised $14 million in a funding round, in what it claims is the “largest” seed investment in a digital assets startup in the Middle East and North Africa. 

The investment was led by Abu Dhabi-based Further Ventures, with participation by US-based Liberty City Ventures. 

The startup enables banks, fintechs or enterprises to offer regulated digital asset products to customers through native apps.

Fuze CEO Mohammed Ali Yusuf believes the Middle East is perfect for a digital assets infrastructure business, as the regional digital asset market is worth $566 billion, growing 48 percent year on year. 

“This is an important strategic investment into digital assets, one of our core verticals. Fuze is well placed to be a leader in digital assets across the MENA region and beyond,” he said.

Regulations have played a pivotal role in propelling the UAE into a central position within the global digital assets industry, Yusuf said.

Fuze was founded in December 2022 and joined Hub71, Abu Dhabi’s global tech ecosystem, this year.

The startup handles complexities of blockchain and regulatory overheads for enterprises, enabling organisations to offer digital assets such as stablecoins, cryptocurrencies, CBDCs and tokenised assets.

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