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November 28, 2023
The original article is available here.
Abu Dhabi, United Arab Emirates: Wio have partnered with Fuze, MENA’s pioneering digital assets infrastructure provider, to empower its customers with cutting edge virtual assets trading services. Customers will be able to buy and sell popular virtual assets directly through Wio Invest.
Wio Invest allows customers to start investing simply and effortlessly, where users can access thousands of global stocks, ETFs, fractional shares and even UAE IPOs seamlessly in a single, integrated app.
The agreement was signed at a ceremony at Wio’s Headquarters in Abu Dhabi, solidifying the commitment of both entities to pioneer innovative solutions in the fintech landscape.
Speaking about the significance of the partnership, Jayesh Patel, CEO of Wio, said: “Our region is emerging as an important hub for virtual assets, and we are seeing a rising demand from customers searching for seamlessly integrated trading services within their everyday financial apps. We are excited at the opportunities this collaboration with Fuze provides, to better serve our customers and support the UAE’s forward-thinking transformation of the financial services sector. Fuze mirrors our own robust governance, compliance, and risk capabilities, so our customers can be confident in having secure access to virtual assets”
Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, said: “As a regulated provider, we are proud to partner with Wio, which has already made tremendous strides in redefining financial services for the modern era across the region. There is a clear synergy with our mission to build the future of finance and we look forward to supporting Wio in delivering regulated, trusted virtual assets services to its flourishing customer base.”
The collaboration between two thriving, homegrown Abu Dhabi fintech companies, is underpinned by the clear regulation and guidance provided by the UAE’s regulators.
In this way, the digital assets ecosystem can continue to build trust. The region is the fastest growing digital assets hub in the world, but a recent UAE poll suggested 48% of virtual asset users lacked trust in exchanges. Through such partnerships, digital financial institutions can provide regulated options for their customers and help to increase trust in the virtual asset ecosystem.
Fuze allows financial institutions to manage their virtual assets services, including risk and compliance reporting, through a proprietary, simple interface known as a Digital Asset Management System (DAMS). It enables banks to operate in the virtual asset economy without the need to build their own in-house virtual assets capabilities.
Both Wio and Fuze are participating in Abu Dhabi Finance Week, one of the biggest weeks in the regional financial calendar. The event is bringing together more than 10,000 financial leaders from across the globe.
Fuze is exhibiting at the Hub71-sponsored booth in North Plaza on 29th November, 2023.
About Fuze:
Fuze is a first-of-its-kind, regulated digital assets infrastructure platform in MENA. Driven by a solutions-based approach, Fuze helps financial services providers to strategise, organise and implement digital assets infrastructure and quickly, securely launch regulated, world-class products. Fuze was co-founded by Mohammed Ali Yusuf, Arpit Mehta and Srijan Shetty
Fuze offers a Digital-Assets-as-a-Service platform which enables banks and fintechs to integrate and embed regulated digital assets products in a B2B2C fashion, as well as an Over-The-Counter (OTC) service, supporting institutions, funds and HNIs (high net-worth individuals) to interface and conduct larger trades of digital assets.
In August 2023, Fuze announced a record-breaking seed funding of $14mn, the largest of its kind for a digital assets infrastructure startup in the region. The round was led by Further Ventures with participation from New York’s Liberty City Ventures. The team at Fuze supports the rapidly accelerating digital assets ecosystem, working collaboratively with regulators on a long-term view of the industry.
To read more, visit fuzefinance.com.
For media enquiries, please contact:
Jonathan Ivan-Duke
Partner, duke+mir
jon@dukemir.com
Rima Al Jareh
Wio
rjareh@wio.io
