Fuze, a digital asset finance infrastructure provider that offers global stubcoin payments, Fiat payments and collections, and built-in crypto services, has been granted a payment license from the UAE Central Bank.
Fuze Group is both Payments Infrastructure Division, a fully licensed operator of digital asset infrastructure and a regulated payment service provider in the region through its subsidiary, Niobe Payment Services LLC SPC.
According to a press release, the new licensing will allow businesses to benefit from faster, safer payment options, faster trading times and end-to-end compliance. Fuze deploys a robust payment stack that combines advanced technology, a seamless user experience, and built-in compliance.
Mohammed Ali Yusuf (Mo Ali Yusuf) is CEO and co-founder of Fuze, licensed in the UAE by Vara, pointed out that this is the launch pad for next-generation payments. He said their mission is to provide digital and AI-enabled infrastructure that drives the future of finance and transforms payments. He added:
“We can be granted this license from the central bank and look forward to providing cutting-edge, compliant payment infrastructure and new solutions to a wide range of businesses, such as Virtual Ivan.”
The new payment platform leverages AI technology to support a compliant suite of digital asset payment products for businesses, fintechs and markets. Services include digital payments and settlements, AI compliance and fraud detection, and virtual evans.
Earlier this year, Fuze was chosen as the provider of MasterCard Crypto Credential Services, which uses blockchain networks to promote validation of transactions between consumers and businesses.
Fuze received a VARA license in 2023 after raising $14 million
Morpheus Software Technology (Fuze) FZE has achieved a significant milestone in the realm of Virtual Asset Service Providers (VASPs) by obtaining a VARA license dedicated to broker-dealer services. The VARA license allowed Fuze to provide its clients with crypto brokerage services, including institutional investors, qualified investors and retail investors. With this license, the company provided two major services. First, it enables seamless integration of B2B2C digital asset products for digital assets as a service (DAA), banks, fintechs, and businesses. Second, it is a regulated, off-the-shelf (OTC) service that provides investors with efficient options for institutional-level digital asset trading.
Previously, Fuze had secured a total of $14 million seed funding, led by Further Ventures, a subsidiary of Abu Dhabi-based ADQ, and had a prominent participation from US-based Liberty City Ventures.
