Fuze, a financial infrastructure provider based in Abu Dhabi, has secured approval from the Central Bank of the UAE (CBUAE) for a Retail Payment Services and Card Schemes (RPSCS) license.
The company received the approval through its subsidiary, Niobe Payment Services LLC SPC.
With this license, Fuze is now positioned as both a fully licensed operator for digital assets infrastructure and, via its payments infrastructure division, as a regulated payment services provider in the region.
The approval will allow businesses to access faster and more secure payment options, reduce transaction times, and ensure compliance with local regulations.
The firm is developing a payments stack designed to integrate advanced technology, smooth user experience, and built-in compliance systems.
Mohammed Ali Yusuf, CEO and Co-Founder of Fuze, described the approval as an important step for the company’s growth:
“We are privileged to be granted this license from the Central Bank and look forward to providing cutting edge, compliant payment infrastructure and novel solutions like virtual IBANs for a range of businesses.”
The company’s offering will align with the UAE’s Digital Economy Strategy, which aims to increase the digital economy’s contribution to the national GDP to 19.4 per cent by 2032.
The license represents a significant development for Fuze as it continues to build its financial infrastructure capabilities for the MENA region, adding to its existing digital assets infrastructure.
Fuze has outlined plans to launch a new payment platform that combines artificial intelligence driven compliance tools, user friendly design, and integrated fraud detection to meet the needs of modern businesses.
The firm’s suite of products will include real time digital payment and settlement solutions, an AI powered engine for compliance and fraud prevention, virtual IBANs to streamline payment collection and fund management, and merchant tools to support UAE based businesses in handling payments and expansion.
Featured image credit: edited from freepik
