Commercial Bank International PJSC (CBI) and Fuze, a
digital asset infrastructure provider, have signed a Memorandum of
Understanding to explore and develop digital asset solutions within the
UAE’s comprehensive regulatory frameworks. According to a statement shared on Zawya, this
partnership signals a pivotal step in addressing the rising demand for
regulated cryptocurrency services.
etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now!
Giovanni Everduin, the Chief Strategy and Innovation
Officer of Commercial Bank International, mentioned: “Pooling the
knowledge, expertise, and resources of CBI and Fuze will help us 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 collaboration between CBI and Fuze aims to
bolster the UAE’s expanding digital assets ecosystem. By leveraging
technologies and regulatory frameworks, both entities plan to facilitate
financial inclusivity and advance the digital transformation of the country’s
financial sector.
Keep Reading
Dubai’s crypto sector is experiencing exponential growth. Despite challenges like market volatility and trust issues, a survey
from KuCoin released last year highlighted the thriving crypto landscape in the
UAE.
UAE’s Crypto Landscape
According to the report, 59% of crypto users in the
region perceive cryptocurrency as a reliable long-term investment, showcasing its
potential as a store of value. Moreover, 35% see crypto as a diversification
tool, while 11% leverage it against inflation.
The survey revealed that crypto serves as a
convenient asset storage method for 29% of respondents, challenging traditional
banking systems. Additionally, 22% utilize crypto for daily transactions, while
12% rely on it for cross-border remittances, showcasing its practicality and
versatility.
Security emerges as a top priority for UAE crypto
users, with 63% emphasizing it in their choice of exchanges. Brand reputation
and customer support also play pivotal roles, underlining the growing
discernment within the community regarding safeguarding digital assets.
Bitcoin remains the preferred choice for 72% of crypto investors in the UAE, followed by Ethereum at 52%. The UAE’s advantageous position, including access to funding, robust infrastructure, favorable regulations, and global networks, cements its status as a burgeoning hub for crypto industry development.
Commercial Bank International PJSC (CBI) and Fuze, a
digital asset infrastructure provider, have signed a Memorandum of
Understanding to explore and develop digital asset solutions within the
UAE’s comprehensive regulatory frameworks. According to a statement shared on Zawya, this
partnership signals a pivotal step in addressing the rising demand for
regulated cryptocurrency services.
Giovanni Everduin, the Chief Strategy and Innovation
Officer of Commercial Bank International, mentioned: “Pooling the
knowledge, expertise, and resources of CBI and Fuze will help us explore a
range of innovative new digital assets use cases for business and personal
finance.”
etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now!
“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 collaboration between CBI and Fuze aims to
bolster the UAE’s expanding digital assets ecosystem. By leveraging
technologies and regulatory frameworks, both entities plan to facilitate
financial inclusivity and advance the digital transformation of the country’s
financial sector.
Keep Reading
Dubai’s crypto sector is experiencing exponential growth. Despite challenges like market volatility and trust issues, a survey
from KuCoin released last year highlighted the thriving crypto landscape in the
UAE.
UAE’s Crypto Landscape
According to the report, 59% of crypto users in the
region perceive cryptocurrency as a reliable long-term investment, showcasing its
potential as a store of value. Moreover, 35% see crypto as a diversification
tool, while 11% leverage it against inflation.
The survey revealed that crypto serves as a
convenient asset storage method for 29% of respondents, challenging traditional
banking systems. Additionally, 22% utilize crypto for daily transactions, while
12% rely on it for cross-border remittances, showcasing its practicality and
versatility.
Security emerges as a top priority for UAE crypto
users, with 63% emphasizing it in their choice of exchanges. Brand reputation
and customer support also play pivotal roles, underlining the growing
discernment within the community regarding safeguarding digital assets.
Bitcoin remains the preferred choice for 72% of crypto investors in the UAE, followed by Ethereum at 52%. The UAE’s advantageous position, including access to funding, robust infrastructure, favorable regulations, and global networks, cements its status as a burgeoning hub for crypto industry development.
