- Circle Internet Financial and UAE-based Fuze have partnered to promote digital asset usage in the Middle East and Africa (MENA).
- The partnership aims to expand the reach of USDC, a stablecoin backed by the US dollar, to a wider range of customers in the region.
- The goal is to enhance accessibility to USDC and foster stronger connections between regional and global financial networks.
Circle Internet Financial and Fuze, a regulated digital assets infrastructure provider in the UAE, have teamed up to push forward digital asset usage in the Middle East and Africa (MENA). This partnership aims to expand the reach of USDC, a stablecoin backed by the US dollar, throughout the region.
The agreement between Circle and Fuze outlines their joint mission to introduce USDC to a wider array of customers in MENA, spanning from banks and fintech companies to traditional businesses and Web3 firms.
Miriam Kiwan, VP of Partnerships & Business Development for MENA at Circle, emphasized how this collaboration is a significant step toward enhancing financial inclusion. Kiwan highlighted the milestone this partnership represents in their quest to promote the adoption of payment stablecoins across MENA. She added that their goal is to enhance accessibility to USDC and foster stronger connections between regional and global financial networks.
Mo Ali Yusuf, Fuze’s Co-Founder and CEO, echoed Kiwan’s sentiments, underlining the shared vision between Circle and Fuze. Yusuf emphasized their mutual aim to create more efficient financial services and a digital assets infrastructure that fosters a more interconnected and inclusive economy. He expressed excitement about the collaborative potential to shape the future of finance.
Fuze has played a pivotal role in advancing digital assets infrastructure in the region. Founded by Mo Ali Yusuf, Arpit Mehta, and Srijan Shetty, the company has rapidly established robust regulatory frameworks and licensing, securing significant seed funding. Fuze remains dedicated to accelerating product implementation and growth in close cooperation with local and regional regulatory bodies.
In an interview with Miriam Kiwan, Vice President of Circle MENA, she explained Circle’s vision as a financial technology entity aiming to enhance global economic prosperity through seamless value exchange. Kiwan emphasized their goal to increase USDC adoption in the region, allowing both individuals and businesses to participate in the digital economy while promoting financial inclusion.
She highlighted the significance of the UAE, where a large majority of residents are expatriates, making it a crucial market for remittances. Kiwan expressed her belief in USDC’s potential to facilitate cross-border business transactions and individual remittances by leveraging the capabilities of blockchain technology.