FUZE has received a payments license from the Central Bank of the United Arab Emirates, paving the way for new opportunities in digital payments.
License Acquisition from Central Bank of UAE
FUZE Group, through its subsidiary Niobe Payment Services LLC SPC, has become a licensed operator for digital asset infrastructure and a regulated payment service provider in the region. The license from the Central Bank of the UAE will enable businesses to benefit from faster and safer payment options, reduced transaction times, and end-to-end compliance.
Goals and Features of the New Platform
FUZE is rolling out an innovative payment platform that will leverage advanced technology to provide a seamless user experience. The platform will include digital payment services, compliance features, fraud detection using AI, and virtual IBANs. Mohammed Ali Yusuf, CEO of FUZE, noted that this marks the launch of the next generation of payments.
Previous Achievements of FUZE
In 2023, FUZE also received a VARA license to offer brokerage services in the digital assets sector. This allowed the company to provide two main services: Digital Assets as a Service (DAAS) and a regulated Over-The-Counter (OTC) service for institutional investors. Earlier, the company raised $14 million in a seed funding round.
The acquisition of a license from the Central Bank of the UAE represents an important milestone for FUZE in providing safe and innovative digital payment solutions for businesses.
