- Fuze secured a UAE payment license to launch a regulated AI-powered digital payment platform.
- The license enables real-time payments, virtual IBANs, and compliance tools for local businesses.
- Fuze’s expansion follows its VARA license and $14M funding to support crypto and payment services.
The Central Bank of the United Arab Emirates has approved a payment license for Fuze, a rising financial infrastructure provider. The license grants Fuze’s subsidiary, Niobe Payment Services LLC SPC, the authority to offer regulated retail payment services and card schemes in the region.
Currently, Fuze holds dual regulatory status in the UAE. The license grants the digital asset infrastructure and payment services rights. The latest license allows the company to strengthen its real time payments capabilities while remaining in full compliance with the regulatory approach.
New Platform to Support AI-Driven Payment Products
Fuze is now able to offer a range of payment services under the new Retail Payment Services and Card Schemes (RPSCS) licence. These include digital payments in real time, a tool that makes use of AI for compliance and systems of fraud detection. In addition, Fuze will also provide virtual IBANs to enable companies to make the payment collection process easier and to manage custody of funds more efficiently. The platform is geared towards fintechs, e-commerce companies and marketplaces.
According to Fuze CEO Mohammed Ali Yusuf, This license is the launchpad for the next generation of payments. He emphasized the company’s commitment to building AI-enabled infrastructure for modern finance. In addition to secure payments, the platform includes merchant tools for local businesses. These tools help businesses manage digital transactions and scale operations in line with the UAE Digital Economy Strategy.
Regulatory Progress and Regional Expansion
Since its establishment in 2023, Fuze has achieved accelerated growth in the Middle East, alongside Turkey and South Asian nations. It is recognized as a “Future 100” business and maintains strong collaboration with regional regulatory entities. Fuze obtained a Broker-Dealer license from the Virtual Asset Regulatory Authority (VARA) in Dubai earlier this year. Through this license the company may now provide its customers with crypto brokerage and Over-The-Counter (OTC) services.
Fuze also provides Digital Assets as a Service (DAAS), a B2B2C solution that allows banks and enterprises to integrate digital asset products.
The firm gained additional traction after securing $14 million in seed funding in 2023. Recently, Fuze was chosen as a partner for Mastercard’s Crypto Credential service. Through this initiative, the blockchain-based transactions between businesses and consumers are verified. The collaboration further strengthens Fuze’s position in the regulated digital payments ecosystem.
This new license fits into the UAE’s push for its digital economy. The sector is meant to contribute double the GDP by 2032. This latest regulatory approval puts Fuze in a position to build a flexible and scalable payment stack. The compliance, speed and technology make the system perfect for fulfilling the growing demands for modern financial platforms.
Under the license, Fuze may also function as a payment infrastructure provider for digital assets. It includes fiat payouts, stablecoin settlements and embedded crypto services. It provides a platform structured so that businesses select only the services that they need. With the modular design, each client gets a tailor made payment solution. Fuze’s ecosystem now gains another layer of trust and oversight via the approval from Central Bank. This shows the broader efforts in the UAE to regulate and support digital finance innovation.
