Dubai, United Arab Emirates: Fuze, one of the Middle East and Turkey’s fastest-growing financial infrastructure providers has joined the Global Dollar Network to provide Global Dollar (USDG) to its customers.
It joins a united network of major institutions such as Robinhood, Kraken, OKX, Mastercard, Galaxy Digital and Bullish, which are forming a borderless ecosystem for the adoption of USDG, a fully-backed stablecoin pegged to the US Dollar that is issued by Paxos.
Fuze will incorporate USDG into its regulated Digital Assets-as-a-Service infrastructure. This will enable banks, fintechs and enterprises to integrate USDG into payment flows, remittances and merchant settlement – a move that will make digital payments faster, more cost effective and more accessible.
Fuze CEO Mo Ali Yusuf said, “Stablecoin infrastructure that settles in dollar-denominated amounts is very useful for various businesses. Banks, financial institutions, and exchanges can manage assets and payments more efficiently, while merchants, e-commerce businesses and enterprises can benefit from faster, cheaper settlements.”
Fuze is joining the Global Dollar Network to make it simple for partners to launch trusted USDG-powered products using its API tools for payments, wallets and stablecoins. This technology enables businesses to adopt USDG with regulatory confidence. Importantly, Paxos must hold 1:1 reserves for USDG (in either dollar deposits, short duration US government securities or cash equivalents). In addition, these reserves are audited and subject to transparency measures (such as monthly reserve reports) to reassure credibility.
Guillaume Kendall, Director of Business Development (EMEA Crypto Natives) at Paxos Infrastructure added, “USDG and the Global Dollar Network is a collaborative stablecoin ecosystem. Fuze is an important, regulated partner that helps the network to accelerate compliant stablecoin adoption and move money more efficiently across the Middle East and beyond.”
For more information, visit fuze.ae.
About Global Dollar Network
Global Dollar Network is the world’s fastest growing stablecoin network with unmatched economic upside. Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions. Global Dollar Network partners include industry leaders such as Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, Worldpay and more.
About USDG in the EU
Paxos issues USDG in the EU through Paxos Issuance Europe OY (“PIE”).
USDG is fully redeemable from Paxos on a one-to-one basis for U.S. dollars. All USDG token holders in the EU have a right of redemption against PIE at any time and at par value for USDG. Further information is available at paxos.com/eu, and the EU USDG White Paper is available at http://www.paxos.com/terms-and-conditions/usdg-eu-whitepaper.
Contact information:
Email: [email protected]
Telephone: +358 4549 00 361
Note: USDG is available on Solana, Ink, X Layer and Ethereum.
Media contact:
Jonathan Ivan-Duke
Partner, duke+mir
+971582857333
About Fuze:
Fuze is MENA’s first-of-its-kind regulated digital assets infrastructure provider, offering financial institutions and businesses cutting-edge tools to integrate digital asset services securely and efficiently. 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 across wealth and payments.
Fuze was founded by an expert team of fintech, traditional finance (TradFi) and decentralized finance (DeFi) leaders, with its co-founders holding extensive knowledge from experience in global hypergrowth businesses: the CEO, Mohammed Ali Yusuf (Mo Ali Yusuf) has held prominent roles at Checkout.com and Visa; Arpit Mehta (COO) was previously in the leadership team at fintech leaders like Simpl and Clear; Srijan Shetty (CTO) built algorithmic trading systems at Goldman Sachs and worked at tech leader Microsoft.
Fuze offers a Digital-Assets-as-a-Service infrastructure platform which enables banks and fintechs to embed regulated digital assets products in a B2B2C fashion. Additionally, Fuze provides an Over-The-Counter (OTC) service that supports institutions, funds, and HNIs (high-net-worth individuals) in executing large digital asset trades securely and efficiently.
