Crypto infrastructure startup Fuze from the UAE successfully gains license to extend its services into card payments sector
Fuze, a fintech company based in the UAE, has taken a significant step forward in its mission to transform payments by receiving a Retail Payment Services and Card Schemes (RPSCS) license from the Central Bank of the UAE. This license will enable Fuze to offer card payment services to businesses across the UAE, marking its expansion into traditional payments.
Initially focusing on digital assets, Fuze offers Crypto-as-a-Service products and an Over-the-Counter (OTC) desk for large crypto trades, providing access to over 100 tokens, 24/7 trading, and real-time settlements. With the new approval, Fuze is now poised to integrate crypto payments with conventional financial infrastructure, offering a seamless experience for businesses.
Mo Ali Yusuf, co-founder and CEO of Fuze, stated 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's infrastructure will provide tools like virtual IBANs, AI-based fraud detection, and real-time settlements for businesses.
The RPSCS license allows Fuze to provide traditional payment services such as payment processing, settlement, and clearing in compliance with UAE regulations. This includes integrating crypto payment capabilities alongside traditional transactional services, as part of their partnership with Mastercard on crypto credential solutions to support seamless digital asset transactions across the region.
Through Fuze's APIs, banks, fintechs, and other platforms can embed crypto trading, loyalty programs, custody, and lending into their apps, further enhancing the integration of crypto payments into the mainstream financial landscape.
This advancement positions Fuze as a bridge between traditional payment methods and emerging crypto-enabled payment systems in the UAE’s rapidly evolving digital finance market environment. Fuze's services cover payment processing for merchants and consumers, cross-border and local settlement services, infrastructure to support fintechs and banks in onboarding and transacting payments, and compliance and regulatory adherence services supporting transaction security and risk management.
With this expansion, Fuze is set to redefine the payment landscape in the UAE, offering secure, efficient, and inclusive payment processing that supports banks and fintechs, enhancing trust and reliability in the payment ecosystem.
[1] Source: Press Release, Fuze, [Date] [4] Source: TechCrunch, "Fuze secures RPSCS license to expand into traditional payments and crypto-fiat bridging in the UAE", [Date]
- Fuze, being a fintech company that offers Crypto-as-a-Service products and aims to transform payments, is now integrating crypto payments with conventional financial infrastructure, thanks to the RPSCS license.
- In the UAE's rapidly evolving digital finance market environment, Fuze, with its new traditional payment services, is positioning itself as a bridge between traditional payment methods and emerging crypto-enabled payment systems, aiming to redefine the payment landscape.
