Circle Internet Financial (Circle), a significant global financial technology business, and Fuze, the United Arab Emirates’ regulated digital asset infrastructure provider, have forged a strategic partnership to promote the adoption of these assets throughout the Middle East and Africa (MENA).
This collaboration aims to boost the use of USDC (Circle’s stablecoin backed by US dollars) throughout the region. Circle and Fuze signed an MoU (Memorandum of Understanding) outlining their collaborative efforts to expose USDC to a broader spectrum of MENA clients, including banks, fintech companies, traditional enterprises, and Web3 corporations.
Mohammed Ali Yusuf, co-founder and CEO of Fuze, underlined the concept and emphasized how Circle and Fuze share similar ambitions. Yusuf stated that the goal of both Fuze and Circle is to build digital asset infrastructure and provide more efficient financial services in order to build more linked and inclusive economies. He was ecstatic at the prospect of working together to influence the direction of finance.
It is critical to recognize that Fuze has significantly contributed to the development of digital asset infrastructure in the region. The firm, which was founded by Mo Ali Yusuf (CEO), Srijan Shetty (CTO), and Arpit Mehta (COO), has acquired substantial initial capital, robust regulatory frameworks, and licensing rapidly. This represents a significant turning point in the Middle Eastern and North African digital asset startup scene. Fuze remains committed to accelerating the product deployment and expansion process in collaboration with regional and local regulatory organizations.
In a UNLOCK Blockchain interview, Miriam Kiwan, vice president of MENA for Circle, further elaborated that the organization’s objective is to facilitate the smooth transfer of assets in order to foster worldwide economic progress. As noted by Kiwan, the United Arab Emirates (UAE) is an essential remittance market with an 89% foreign population. With regard to cross-border business transactions and individual remittances, she believes USDC is well-positioned to utilize blockchain technology.