Legacy banking in the Middle East continues its transition toward digital infrastructure. AB Xelerate, the fintech accelerator of Jordan’s Arab Bank, has signed a Memorandum of Understanding (MoU) with Abu Dhabi-based Fuze, a prominent regional digital assets infrastructure provider. The collaboration targets the exploration and development of digital asset products and services within the Hashemite Kingdom of Jordan.
Quick Facts
- AB Xelerate and UAE-based Fuze signed an MoU.
- Initiatives target Jordan’s regulated digital asset sector.
- Operations utilize Fuze’s Digital Assets-as-a-Service infrastructure.
Deploying Digital Assets-as-a-Service in Jordan
The partnership pairs Arab Bank’s institutional banking operations and regional footprint with Fuze’s Digital Assets-as-a-Service (DaaS) infrastructure. Both entities will evaluate potential use cases for digital assets, focusing on creating secure and compliant financial products.
Pending regulatory approvals, the objective is to integrate these digital asset offerings directly into Arab Bank’s existing digital channels, creating highly accessible options for institutional and retail clients.
Eric Modave, Arab Bank Deputy CEO and Chief Operating Officer, emphasized the institution’s strategic direction regarding the partnership.
“Digital assets are an emerging area in the financial services industry, and collaborating with Fuze, a regional expert in regulated digital assets infrastructure is aligned with our commitment to deliver compliant and secure, value-driven solutions for Arab Bank customers,” Modave stated.
Testing Financial Innovation in the JoRegBox Sandbox
The MoU aligns with Jordan’s Economic Modernisation Vision, an initiative focused on strengthening the country’s digital financial infrastructure and boosting economic competitiveness through future-ready financial services.
To ensure strict compliance and risk management, the technical integration, product design, and operational models will be tested within the Jordan Regulatory Sandbox (JoRegBox), operating under the direct oversight of relevant Jordanian regulatory authorities.
Mohammed Ali Yusuf, CEO of Fuze, highlighted the importance of compliance in this sector.
“We are honoured to collaborate with AB Xelerate on future-facing digital asset use cases, supported by Jordan’s regulated sandbox environment. Responsible financial services innovation must be built on secure, compliant infrastructure. Over the coming months, we look forward to supporting AB Xelerate’s team with next-generation solutions,” Yusuf noted.
About AB Xelerate and Fuze
AB Xelerate is the dedicated fintech accelerator of Arab Bank, established to continuously evolve the institution’s digital financial services by adopting new technologies and operating models.
Fuze is a leading digital assets infrastructure provider based in Abu Dhabi, specializing in enabling financial institutions across the MENA region to build and deploy compliant, regulated digital asset solutions through its DaaS platform.
Source: Zawya
