Skip to content Skip to Search
Skip navigation

Digital assets startup Fuze raises $14m in seed round

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.

Latest articles

Saudi housing costs rose nearly 9% year on year in May

Saudi housing costs rise but inflation remains steady

Housing costs in Saudi Arabia rose nearly 9 percent year on year in May, but it was not enough to push overall inflation in the kingdom over 2 percent. The latest data from the General Authority for Statistics showed the annual inflation rate in Saudi Arabia was 1.6 percent in May, having remained at this […]

OTB Group has a presence in Dubai with its Maison Margiela store in the Dubai Mall

Chalhoub Group in venture with Italian luxury brand

Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […]

Arid conditions brought about by the drought in Morocco are affecting the cost of sheep

Drought pushes up sheep price for Eid in Morocco

The price for a sheep in Morocco for the annual sacrifice at Eid al-Adha has increased on average at 10 times the 2.2 percent rate of inflation. A medium-sized female sheep costs MAD4000 ($400) as opposed to MAD3000 last year. This puts it out of range for many families in the country where a high […]

Countryside, Farm, Field

Oman to build agricultural city to enhance food security

Oman will build an agricultural city as part of its food security initiative, a news report said. Saham Agricultural City will cover an area of 65 sq km, with 70 percent dedicated to agriculture and 30 percent to urban development, Oman Daily Observer reported. The city will use advanced technologies such as hydroponics, aeroponics and […]