Digital assets start-up Morpheus Software Technology, which trades as Fuze, has received its virtual assets service provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA).
The licence will allow Fuze to offer regulated virtual asset activities for broker-dealer services.
The company, which is headquartered in Abu Dhabi, raised $14 million in seed funding in September. It works with banks, fintechs and enterprises to embed regulated digital assets infrastructure and launch products from their apps and supports stablecoins, cryptocurrencies, central bank digital currencies (CBDCs) and tokenised assets.
Mohammed Ali Yusuf, co-Founder and CEO of Fuze said: “Businesses can now have full confidence in the regulated infrastructure that Fuze provides, as we support the world’s fastest-growing digital assets hub.”
(Writing by Imogen Lillywhite; editing by Brinda Darasha)