UAE-based crypto infrastructure company Fuze receives authorization to extend services into card-based transactions
Fuze, a fintech company based in the United Arab Emirates (UAE), has taken a significant step forward in its mission to transform the future of finance and payments. The company has received a Retail Payment Services and Card Schemes (RPSCS) license from the Central Bank of the UAE, allowing it to offer secure, integrated digital asset infrastructure and payments solutions.
Initially focusing on digital assets, Fuze offers Crypto-as-a-Service products through its APIs. This enables banks, fintechs, and other platforms to embed crypto trading, loyalty programs, custody, and lending into their apps. In addition, Fuze provides an Over-the-Counter (OTC) desk for large crypto trades, giving businesses access to over 100 tokens, 24/7 trading, and real-time settlements.
With the new RPSCS license, Fuze is expanding into traditional payments, enabling businesses across the UAE to accept card payments. The infrastructure provided by Fuze includes tools like virtual IBANs, AI-based fraud detection, and real-time settlements.
Mo Ali Yusuf, co-founder and CEO of Fuze, expressed his excitement about the development, stating that the license is a key step in their mission to provide digital and AI-enabled infrastructure for the future of finance and transform payments.
Fuze is also actively engaging in innovation around the future of payments. This is evident in their organisation of the FUZŻ Hackathon event aimed at shaping future payment technologies and their focus on leveraging AI and stablecoins. While the specific new retail payment or card services enabled by the RPSCS license have not been detailed, the emphasis on digital asset integration and advanced payment technologies suggests that Fuze is evolving into a platform that supports both traditional payments and cutting-edge fintech solutions involving digital currencies and AI-driven payment tools.
[1] Digibanc Platform: https://www.digibanc.com/ [2] FUZŻ Hackathon: https://fuzz.digibanc.com/
- Fuze, equipped with its new Retail Payment Services and Card Schemes (RPSCS) license, is now venturing into traditional business areas, offering card payment solutions to various UAE companies.
- With its focus on innovating payment technologies, Fuze not only intends to facilitate traditional transactions but also aims to integrate digital assets, AI, and stablecoins, making it a platform that supports both conventional and fintech-driven payment solutions.
