The crypto startup is part of the Hub71 ecosystem, which unveiled a $2 billion initiative earlier this year to support Web3 and blockchain projects in the region.
Fuze, a leading digital assets infrastructure provider based in the United Arab Emirates, has successfully secured $14 million in a robust seed round, spearheaded by Further Ventures, an esteemed firm headquartered in Abu Dhabi. Liberty City Ventures, a prominent seed-stage venture capital firm from the United States, also joined as a strategic participant in this significant funding event. This substantial capital injection is poised to propel Fuze’s ongoing efforts in expanding and fortifying its digital infrastructure, as elucidated in the official press release.
Abu Dhabi, the capital of the UAE, has consistently displayed a progressive stance towards cryptocurrency and digital assets, marked by the implementation of pioneering digital asset regulations as early as 2018. The city has further solidified its commitment to the global technology ecosystem through the establishment of Hub71, an initiative that earmarked a substantial $2 billion fund dedicated to supporting Web3 and blockchain startups operating within the region. Fuze, having been founded in December 2022, proudly stands as an integral part of the thriving Hub71 ecosystem.
Fuze has carved a distinctive niche for itself by empowering businesses across the Middle East and North Africa (MENA) region to provide their customers with access to digital assets, including tokens, stablecoins, and tokenized assets, all within the bounds of strict regulation and compliance. This trailblazing startup boasts a stellar founding team, led by CEO Mohammed Ali Yusuf, an industry veteran with previous experience as Visa’s Business Development Lead for digital banks and fintechs in Dubai. Alongside him, the team includes Chief Operating Officer Arpit Mehta, a seasoned fintech professional, and Chief Technology Officer Srijan Shetty, renowned for his contributions to algorithmic trading systems at Goldman Sachs.
In recognition of Fuze’s exceptional capabilities and forward-looking vision, Further Ventures has expressed high praise in the press release, affirming, “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.” With such resounding support and resources at its disposal, Fuze is primed to lead the charge in shaping the future of digital assets within and beyond the MENA region.