Klumi Ventures, a leading venture capital firm based in Abu Dhabi, has announced a strategic partnership with Fuze, a top provider of regulated digital assets and blockchain infrastructure in the Middle East. This collaboration aims to bridge traditional finance with the rapidly evolving world of digital assets. By combining Klumi Ventures’ investment expertise and Web3 technologies with Fuze’s robust digital asset infrastructure, the partnership seeks to accelerate the adoption of Web3 technologies across the region. The goal is to empower financial institutions to seamlessly integrate regulated digital assets such as cryptocurrencies, stablecoins, tokenized assets, and central bank digital currencies (CBDCs) into their operations.
The partnership will focus on enhancing cross-border payments, utilizing the efficiency and speed of digital assets to streamline processes for financial institutions. Additionally, the collaboration will emphasize educational initiatives, including workshops and programs to demystify blockchain technology for financial institutions. These initiatives will address regulatory compliance complexities and showcase the potential of digital assets. The partnership will also explore the development of new products and unique use cases, such as specialized over-the-counter (OTC) trading solutions.
This collaboration aligns with the Abu Dhabi Economic Vision 2030 and adheres to the regulatory frameworks established by the Abu Dhabi Global Market (ADGM) and the Financial Services Regulatory Authority (FSRA). Klumi Ventures highlighted that this partnership not only supports their commitment to nurturing startups but also enhances their ability to deliver innovative solutions for tokenizing real-world assets and facilitating cross-border payments.
Fuze, backed by Further Ventures, has established itself as a leader in the digital assets sector, offering a Digital-Assets-as-a-Service platform that enables banks and fintech firms to integrate regulated digital assets into their services. The company also provides OTC services, facilitating large-scale digital asset transactions for institutions, funds, and high-net-worth individuals (HNIs).
This partnership is expected to significantly enhance the digital asset landscape in the UAE, particularly in Abu Dhabi. It aims to elevate technological capabilities and accelerate the region’s adoption of Web3 technologies. A recent panel discussion by the Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE Banks Federation (UBF) noted that the UAE accounts for a significant portion of global digital asset trading volume, estimated at 5-10%. Additionally, global revenue growth for digital assets is projected to increase by 17.38% by 2025, according to data from Statista.
This strategic partnership not only underscores the growth potential within the UAE’s digital assets sector but also sets a precedent for future collaborations that aim to integrate traditional finance with cutting-edge digital innovations. The joint efforts of Klumi Ventures and Fuze are poised to make a lasting impact on the region’s financial landscape, driving both innovation and the adoption of Web3 technologies.
