The Commercial Bank International (CBI), the Dubai-based corporate and retail bank, and the Fuze, the digital asset infrastructure company have signed a Memorandum of Understanding (MoU). This MoU will allow both CBI and Fuze to jointly explore digital asset innovation, under the comprehensive regulatory frameworks of the UAE.
The agreement provides foundations for new use cases that could explore the potential of blockchain and other digital assets, including payments and investments. The extensive and robust track record in business and personal finance for CBI and Fuze’s digital assets infrastructure and expertise will help both collaborate to create a suite of blockchain and digital asset products.
On the occasion of the MoU signing, Giovanni Everduin, Chief Strategy & Innovation Officer of Commercial Bank International (CBI) said, pooling the knowledge, expertise and resources of CBI and Fuze will help the duo explore a range of innovative new digital assets use cases for business and personal finance.
“This agreement will bring our customers closer to the many opportunities of digital assets, within a safe and regulated environment, in line with the UAE’s world-class virtual assets regulations. The signing of this MoU marks CBI’s commitment to furthering innovation and aligns perfectly with the UAE Government’s prioritisation of innovation as a pivotal force for driving positive change and economic development”.
Leveraging CBI’s extensive and robust business and personal finance track record, with Fuze’s cutting-edge digital assets infrastructure and expertise, the two parties will collaborate to develop a suite of digital asset and blockchain products.
Mohammed Ali Yusuf (Mo Ali Yusuf), CEO and Co-Founder of Fuze, added, the team aims to support CBI in connecting customers with future-facing financial products through the power of blockchain infrastructure.
“Collaborating with CBI marks a significant milestone for digital assets in the UAE. We look forward to supporting the Bank in providing greater financial accessibility and empowerment for their customers through powerful digital assets and cryptocurrency use cases”.
The collaboration emphasises responsible innovation and as a regulated business, Fuze is committed to structuring compliant products that foster trust and confidence in the UAE’s digital asset ecosystem.