Klumi Ventures, the premier blockchain-native Venture Capital Firm and Fund Manager based in Abu Dhabi, has partnered with Fuze, the Middle East’s leading regulated digital assets and blockchain infrastructure provider for financial institutions, to bridge the gap between traditional finance and digital assets in the MENA region. This strategic alliance with Fuze, which is backed by Further Ventures, underscores a shared commitment to drive the growth of the Web3 and digital asset ecosystem within the region.
This collaboration underscores a shared commitment to advancing the Web3 and digital asset ecosystem within UAE, aligning closely with the Abu Dhabi Economic Vision 2030 and the regulatory standards set by the ADGM and the Financial Services Regulatory Authority (FSRA). By merging Klumi Ventures' Web3 expertise with Fuze’s digital asset infrastructure, the partnership seeks to drive the digital transformation of financial services in the region.
Fuze has rapidly established itself as a leader in the digital assets sector, offering a Digital-Assets-as-a-Service platform that empowers banks and fintechs to integrate regulated digital assets into their offerings. Additionally, Fuze provides Over-The-Counter (OTC) services, facilitating larger digital asset transactions for institutions, funds, and high-net-worth individuals (HNIs). This partnership will harness Klumi Ventures’ investment acumen alongside Fuze’s robust infrastructure to accelerate the adoption of Web3 technologies throughout the region.
“By aligning Fuze’s vision with Klumi Ventures’ investment expertise, we are set to drive meaningful growth in the region. This collaboration not only supports our commitment to nurturing early-stage startups but also enhances our ability to deliver innovative solutions for tokenizing real-world assets and facilitating cross-border payments. We are enthusiastic about the opportunities this partnership presents and look forward to collaborating with Fuze as we work together to shape the future of digital assets in the region,” stated Kristiina Lumeste, SEO and Founder of Klumi Ventures.
Klumi Ventures and Fuze Partnership Framework:
Integration of Digital Assets: Klumi Ventures and Fuze will work together to enable financial service providers to securely and efficiently strategize, organize, and implement digital asset infrastructure. This includes offering digital assets like cryptocurrencies, stablecoins, tokenized assets, and central bank digital currencies (CBDCs).
Cross-Border Payments: The collaboration will enhance the ability of financial institutions to facilitate cross-border payments, bridging the gap between traditional finance and the burgeoning digital asset ecosystem.
Market Education and Innovation: Both companies will collaborate on educational initiatives, workshops, and programs aimed at helping financial institutions understand the complexities of blockchain technology, regulatory compliance, and the potential of digital assets. The partnership will also focus on developing new products and exploring unique use cases, such as specialized OTC trading solutions.
Mo Ali Yusuf, Co-Founder and CEO of Fuze said, “The future success of regional economies relies on grasping the full potential of blockchain and Web3. Klumi Ventures is unequivocal in its belief in the transformative potential of this infrastructure and we look forward to fostering innovation through our collaboration.”
Overall, the partnership between Klumi Ventures and Fuze is poised to accelerate the digital asset landscape, and enhance technological capabilities in the region from the UAE capital. A recent panel held by the Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE Banks Federation (UBF) highlighted that the UAE alone accounts for between 5-10% of global digital assets trading volume. Globally, revenue growth for digital assets is expected to grow by 17.38% in 2025 (Statista).
About Klumi Ventures
Klumi Ventures is the premier Venture Capital Firm based in Abu Dhabi, spearheading blockchain innovation and empowerment in the Middle East. Klumi Ventures holds the distinction of being the region's first blockchain-native Venture Capital Firm and Fund Manager regulated by Abu Dhabi Global Markets. The firm provides comprehensive support to early-stage startups, offering a unique array of strategic advisory, incubation, technical support, legal and compliance expertise, and fund management services. The team focuses on disruptive technologies harnessing blockchain to deliver decentralized, transparent, and secure solutions, driving forward the evolution of the Web3 ecosystem.
For more details on Klumi Ventures, please visit klumiventures.com or follow on X and Linkedin.
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 or follow Fuze on X and Linkedin.
Comments