Fuze Secures License to Provide Card Payment Services in the UAE
Fuze’s new license will allow the UAE fintech to combine crypto and traditional payment services under a regulated framework.
Fuze, a UAE-based fintech which provides financial infrastructure for business, has secured a Retail Payment Services and Card Schemes (RPSCS) license from the Central Bank of the UAE.
With this new license, Fuze can offer card payment services to businesses across the UAE, allowing them to accept payments, settle transactions, and manage payouts.
Since its launch in 2023 following a $4 million seed round, Fuze’s has offered crypto-as-a-service products to banks, fintechs, and other platforms across the MENA region, Turkiye, and South Asia. Using Fuze’s APIs, businesses can embed crypto trading, loyalty programs, custody, and lending into their apps without the need to manage liquidity, compliance, or security themselves. Fuze also offers an OTC desk for large crypto trades, providing businesses with access to over 100 tokens, 24/7 trading, and real-time settlements.
The new RPSCS license allows Fuse to expand into traditional payments too. This will enable businesses to accept card payments and access tools, such as virtual IBANs, AI-based fraud detection, and real-time settlements, positioning Fuze as a one-stop infrastructure provider.
Fuze’s expansion aligns with the UAE’s national Digital Economy strategy, which aims to double the country’s digital economy contribution to GDP to 19.4% by 2032.
