Fuze, an Abu Dhabi-based startup has announced it has received $14 million in seed funding to support the expansion of its digital assets infrastructure in the region.
The investment, which is said to be the largest Seed investment in a digital assets startup in the Middle East and North Africa region (MENA), was led by Abu Dhabi-based Further Ventures, along with participation by US-based Liberty City Ventures.
Founded in December 2022, Fuze enables banks, fintech or traditional enterprises to offer regulated digital assets products to their customers through their native apps. By handling the complexities of blockchain and regulatory overheads, enterprises can more readily offer digital assets such as stablecoins, cryptocurrencies, CBDCs and tokenized assets. In addition, earlier this year, the startup was selected to join Hub71, Abu Dhabi’s global tech ecosystem through its Company Building Program.
Fuze co-founder and CEO, Mohammed Ali Yusuf said: “We are excited to build the future of regulated financial infrastructure and digital assets out of the UAE. Regulations have played a pivotal role in propelling the UAE into a central position within the global Digital Assets industry.
“To receive the backing of Abu Dhabi-headquartered Further Ventures combined with the deep expertise of US-based Liberty City Ventures, confirms the relevancy and potential of Fuze’s mission to rapidly expand our cutting-edge infrastructure across the region.”
Further Ventures added:, “This is an important strategic investment into digital assets, one of our core verticals. The team at Fuze is highly experienced and has a clear vision to develop a trusted, world-class digital assets proposition. Technology that enables a range of stakeholders is vital for the future of the financial ecosystem and Fuze is well placed to be a leader in digital assets across the MENA region and beyond.”