Fuze secures retail payment and card schemes license from UAE Central Bank
Established in 2023, the Fuze Group, through its subsidiary Niobe Payment Services, is already a fully licensed operator for digital assets infrastructure. Now, through its payments infrastructure division, it is also a regulated payment services provider for the region.
The new license will help Fuze clients to benefit from faster, more secure payment options, with reduced transaction times and end-to-end compliance. Backed by a strong regulatory foundation, Fuze is rolling out a payment stack that brings together advanced technology and seamless user experience.
Mohammed Ali Yusuf, CEO and Co-Founder of Fuze, commented: 'This license is the launchpad for the next generation of payments. It marks a key step in our mission to provide digital and AI-enabled infrastructure that will drive the future of finance and transform payments.
'We are privileged to be granted this license from the Central Bank and look forward to providing cutting-edge, compliant payment infrastructure and novel solutions like virtual IBANs for a range of businesses.'
The new license is a significant milestone for Fuze, which is committed to building the infrastructure for the future of finance. It complements Fuze's existing infrastructure for digital assets, providing innovative financial infrastructure tailored for the MENA region.
A new payment platform will combine AI-driven technology, user-friendly design, and integrated compliance features to simplify and support business needs. Businesses can select the services they need and skip the ones they don't, ensuring a flexible and scalable set-up.
The platform's features include digital payments and settlements through real-time infrastructure; AI-enhanced compliance and fraud detection engine; virtual IBANs to make it easier to collect payments and manage funds and merchant tools to help UAE-based businesses to manage payments.
, Turkey, and South Asia. As a group, Fuze helps enterprises solve a variety of financial infrastructure challenges, from navigating digital assets and crypto integration, to payments rails, and building scalable financial products for the future.
In 2023, Fuze announced a record-breaking seed funding of US$14 million, the largest of its kind for a digital assets infrastructure startup in the region. The round was led by Further Ventures, with participation from New York's Liberty City Ventures.
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