March 5, 2024
PRESS RELEASES

Wio Bank PJSC to Enable Virtual Asset Trading, Powered by Fuze

Wio have partnered with Fuze, MENA’s pioneering digital assets infrastructure provider, to empower its customers with cutting edge virtual assets trading services. Customers will be able to buy and sell popular virtual assets directly through Wio Invest.  

Wio Invest allows customers to start investing simply and effortlessly, where users can access thousands of global stocks, ETFs, fractional shares and even UAE IPOs seamlessly in a single, integrated app.

The agreement was signed at a ceremony at Wio’s Headquarters in Abu Dhabi, solidifying the commitment of both entities to pioneer innovative solutions in the fintech landscape.

Speaking about the significance of the partnership, Jayesh Patel, CEO of Wio, said: Our region is emerging as an important hub for virtual assets, and we are seeing a rising demand from customers searching for seamlessly integrated trading services within their everyday financial apps. We are excited at the opportunities this collaboration with Fuze provides, to better serve our customers and support the UAE’s forward-thinking transformation of the financial services sector. Fuze mirrors our own robust governance, compliance, and risk capabilities, so our customers can be confident in having secure access to virtual assets

Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, said: “As a regulated provider, we are proud to partner with Wio, which has already made tremendous strides in redefining financial services for the modern era across the region. There is a clear synergy with our mission to build the future of finance and we look forward to supporting Wio in delivering regulated, trusted virtual assets services to its flourishing customer base.”

The collaboration between two thriving, homegrown Abu Dhabi fintech companies, is underpinned by the clear regulation and guidance provided by the UAE’s regulators.

In this way, the digital assets ecosystem can continue to build trust. The region is the fastest growing digital assets hub in the world, but a recent UAE poll suggested 48% of virtual asset users lacked trust in exchanges. Through such partnerships, digital financial institutions can provide regulated options for their customers and help to increase trust in the virtual asset ecosystem.

Fuze allows financial institutions to manage their virtual assets services, including risk and compliance reporting, through a proprietary, simple interface known as a Digital Asset Management System (DAMS). It enables banks to operate in the virtual asset economy without the need to build their own in-house virtual assets capabilities.

Both Wio and Fuze are participating in Abu Dhabi Finance Week, one of the biggest weeks in the regional financial calendar. The event is bringing together more than 10,000 financial leaders from across the globe.

Fuze is exhibiting at the Hub71-sponsored booth in North Plaza on 29th November, 2023.

Last Updated on 3 months by Middle East News 247

    Middle East News 247

    Middle East News 247

    Middle East News 247 delivers trending business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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