Abu Dhabi, UAE – Klumi Ventures, the leading blockchain-native Venture Capital Firm and Fund Manager based in Abu Dhabi, has announced a strategic partnership with Fuze, the Middle East’s foremost regulated digital assets and blockchain infrastructure provider for financial institutions. This collaboration aims to bridge the gap between traditional finance and digital assets across the MENA region, marking a significant milestone in the advancement of the Web3 ecosystem.
Backed by Further Ventures, Fuze has rapidly emerged as a leader in the digital assets sector, offering a comprehensive Digital-Assets-as-a-Service platform that empowers banks and fintech companies to integrate regulated digital assets into their offerings. The platform also provides Over-The-Counter (OTC) services, facilitating large-scale digital asset transactions for institutions, funds, and high-net-worth individuals (HNIs).
The partnership between Klumi Ventures and Fuze is a significant step toward driving digital transformation in financial services throughout the region. It aligns closely with the Abu Dhabi Economic Vision 2030 and adheres to the regulatory standards set by Abu Dhabi Global Market (ADGM) and the Financial Services Regulatory Authority (FSRA).
Accelerating Web3 and Digital Asset Growth
By merging Klumi Ventures’ investment acumen with Fuze’s robust digital asset infrastructure, the partnership seeks to accelerate the adoption of Web3 technologies in the region. This collaboration will enable financial service providers to securely strategize, organize, and implement digital asset infrastructure, including offerings such as cryptocurrencies, stablecoins, tokenized assets, and central bank digital currencies (CBDCs).
In addition, the partnership will enhance cross-border payment capabilities, effectively bridging the gap between traditional finance and the rapidly growing digital asset ecosystem. Both companies are committed to advancing market education through workshops, programs, and other initiatives aimed at helping financial institutions navigate the complexities of blockchain technology, regulatory compliance, and digital assets.
Leadership Commentary
Kristiina Lumeste, CEO and Founder of Klumi Ventures, expressed enthusiasm for the partnership, stating, “By aligning Fuze’s vision with Klumi Ventures’ investment expertise, we are poised 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 excited about the opportunities this partnership presents and look forward to shaping the future of digital assets in the region.”
Mo Ali Yusuf, Co-Founder and CEO of Fuze, echoed these sentiments, emphasizing the transformative potential of blockchain and Web3. “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.”
A Landmark Partnership for the UAE and Beyond
The collaboration between Klumi Ventures and Fuze underscores their shared commitment to advancing the Web3 and digital asset ecosystem within the UAE and the broader MENA region. This partnership is particularly timely as recent industry panels have highlighted the UAE’s significant role in global digital asset trading, with the nation accounting for an estimated 5-10% of the global trading volume. As digital asset revenue growth is expected to increase by 17.38% globally by 2025, this partnership is poised to make a substantial impact.
About Klumi Ventures
Klumi Ventures is the premier Venture Capital Firm based in Abu Dhabi, spearheading blockchain innovation and empowerment in the Middle East. As the region’s first blockchain-native Venture Capital Firm and Fund Manager regulated by Abu Dhabi Global Market, Klumi Ventures provides comprehensive support to early-stage startups, offering strategic advisory, incubation, technical support, legal and compliance expertise, and fund management services.
About Fuze
Fuze is a first-of-its-kind, regulated digital assets infrastructure platform in MENA. Co-founded by Mohammed Ali Yusuf, Arpit Mehta, and Srijan Shetty, Fuze empowers financial service providers to quickly and securely launch regulated, world-class digital asset products. In August 2023, Fuze announced a record-breaking $14 million seed funding round, the largest of its kind for a digital assets infrastructure startup in the region, led by Further Ventures with participation from New York’s Liberty City Ventures.
This partnership between Klumi Ventures and Fuze is set to accelerate the digital asset landscape and enhance technological capabilities in the MENA region from the UAE capital, setting the stage for a new era of financial innovation.
