Commercial Bank International and Fuze Sign Breakthrough Digital Assets MoU

Collaboration will support the development of products to address the burgeoning demand for cryptocurrency services in the UAE
 
Dubai, UAE – 9 February, 2024: Commercial Bank International PJSC (‘CBI’), a corporate and retail bank headquartered in Dubai, and Fuze, MENA’s leading digital asset infrastructure provider, have announced the signing of a Memorandum of Understanding. The agreement will allow both parties to jointly explore digital assets innovation, under the comprehensive regulatory frameworks of the UAE.
 
The agreement between CBI and Fuze provides the foundations for innovative new use cases that leverage the potential of blockchain and digital assets, including investments and payments. Leveraging CBI’s extensive and robust track record in business and personal finance, with Fuze’s cutting-edge digital assets infrastructure and expertise, the two parties will collaborate to develop a suite of digital asset and blockchain products.
 
Driving this agreement is an underlying demand from customers for safe and regulated digital assets platforms. The collaboration emphasises responsible innovation and as a regulated business, Fuze is committed to structuring compliant products that foster trust and confidence in the UAE’s digital asset ecosystem.
 
On the occasion of the MoU signing, Giovanni Everduin, Chief Strategy & Innovation Officer of Commercial Bank International (CBI) said: “Pooling the knowledge, expertise and resources of CBI and Fuze will help us explore a range of innovative new digital assets use cases for business and personal finance. This agreement will bring our customers closer to the many opportunities of digital assets, within a safe and regulated environment, in line with the UAE’s world-class virtual assets regulations. The signing of this MoU marks CBI’s commitment to furthering innovation and aligns perfectly with the UAE Government’s prioritisation of innovation as a pivotal force for driving positive change and economic development”.
 
Mohammed Ali Yusuf (Mo Ali Yusuf), CEO and Co-Founder of Fuze, added: “We’re thrilled to support CBI in connecting customers with future-facing financial products through the power of blockchain infrastructure. Collaborating with CBI marks a significant milestone for digital assets in the UAE. We look forward to supporting the Bank in providing greater financial accessibility and empowerment for their customers through powerful digital assets and cryptocurrency use cases”.
 
The cooperation between CBI and Fuze will support the UAE’s flourishing digital assets ecosystem, which is rapidly evolving into one of the world’s most robustly regulated and supportive environments.
 
To learn more about Commercial Bank International (CBI), please visit cbiuae.com and to discover more about Fuze’s digital assets infrastructure services, please visit fuzefinance.com.