Morpheus Software Technology, operating under the trade name Fuze and recognized as the pioneering digital assets infrastructure provider in the MENA region, has officially announced its approval from Dubai’s Virtual Asset Regulatory Authority (VARA) to obtain a Virtual Asset Service Provider (VASP) License. This VARA license empowers Fuze to deliver regulated virtual asset activities specifically tailored for Broker-Dealer Services.
Fuze, an innovative platform, offers banks, fintechs, and enterprises the capability to seamlessly incorporate regulated digital assets infrastructure and swiftly launch products through their native applications. This technology-centric regulated infrastructure supports a spectrum of assets, including stablecoins, cryptocurrencies, Central Bank Digital Currencies (CBDCs), and tokenized assets.
Mo Ali Yusuf, Co-founder and CEO of Fuze, expressed gratitude, stating, “We thank VARA for evaluating and approving our license. VARA’s thorough and collaborative process underscores the robust framework at the core of this burgeoning industry.” He highlighted the receptive ecosystem in the UAE, where digital asset businesses are welcomed with regulations that align with the rapid pace of innovation and adoption. Yusuf emphasized that businesses can now trust in Fuze’s regulated infrastructure, supporting the world’s fastest-growing digital assets hub.
The license awarded to Fuze is in compliance with the specified requirements of the Virtual Assets and Related Activities Regulations 2023. Through this license, the company will provide services through two core lines: firstly, via digital assets as a service (DAAS), enabling integration of B2B2C digital asset products seamlessly into channels of banks, fintechs, and enterprises. Secondly, through a regulated Over-The-Counter (OTC) service, Fuze will offer investors a technology-first option for executing institutional-level digital asset trading with simplicity and efficiency.