UAE regulated Fuze Finance receives license in Switzerland

UAE regulated Fuze Finance, a crypto assets infrastructure provider is expanding to Switzerland, its first move into Western Europe after receiving licenses in the Middle East, Turkey and Canada. Under its SO-FIT-supervised Swiss entity, Fuze will provide institutional clients with crypto asset infrastructure and stablecoin settlement alongside traditional SWIFT, SEPA and SIC rails, bringing digital and conventional financial infrastructure together within one regulated offering.

The Supervisory Organisation for Financial Intermediaries and Trustees (SO-FIT), which is authorised by FINMA to operate as a self-regulatory organisation (SRO) and as a supervisory organisation (SO) under Swiss law, has approved Fuze Finance as an affiliated financial intermediary. Fuze Finance will be subject to supervision by the SO-FIT SRO for any activity subject to the Anti-Money Laundering Act.

Fuze Finance aims to serve the banking and wealth management sector in Switzerland which the Swiss Bankers Association estimates is around $11.5 in assets under management.

Fuze Finance wants to serve banks who have yet to establish a regulated crypto assets offering. Fuze will phase up its Swiss operations over the coming months, including local hiring to support institutional clients. It will maintain its effective place of management and decision-making in Switzerland.

Mo Ali Yusuf, CEO of Fuze Finance, noted that the company is looking forward to bringing their experience to Swiss banks and Fintech who are looking for more than a crypto product bolted onto their existing systems but rather a secure regulated infrastructure suitable for the future of financial services.

For Swiss private banks and wealth managers, Fuze will offer a fully disclosed, crypto asset services model, delivered through Swiss-regulated partner institutions (banks and fintechs). The offering also includes institutional crypto brokerage, over-the-counter execution (on an agency basis) and an API platform enabling regulated institutions to embed crypto asset brokerage in their own products.

Additionally a crypto asset model has been outlined in a joint-paper between Fuze and leading enterprise blockchain security and risk solutions firm, Halborn. The model helps banks assess their readiness for crypto assets, from initial market entry through to fully institutional-grade operations.

Gianluca Masini, Country Manager of Fuze Finance (Switzerland), explained “Switzerland has built a regulatory framework that treats crypto assets as a core to the future of finance. Under the supervision of SO-FIT, we are establishing and growing an on-ground Swiss team with agile local decision-making. Swiss banks and fintechs rightly hold their partners to a high standard and we want to provide the best possible service from day one.”