Dubai-based Fuze, one of the Middle East and Turkey’s fastest-growing financial infrastructure providers, has officially joined the Global Dollar Network to offer the US dollar-backed stablecoin, USDG, to its regional customers. The move places Fuze in a prominent network alongside major global institutions such as Robinhood, Kraken, OKX, Mastercard, and Galaxy Digital, creating a unified ecosystem to promote the borderless adoption of the Paxos-issued stablecoin.
Powering Regional Payments With Stablecoins
Fuze will integrate USDG into its regulated Digital Assets-as-a-Service infrastructure, a significant development for the region’s financial sector. This integration will empower banks, fintechs, and enterprises to incorporate USDG into critical financial operations, including payment flows, international remittances, and merchant settlements. The primary goal is to make digital transactions faster, more cost-effective, and broadly accessible across the MENA region.
“Stablecoin infrastructure that settles in dollar-denominated amounts is very useful for various businesses,” said Fuze CEO Mo Ali Yusuf. “Banks, financial institutions, and exchanges can manage assets and payments more efficiently, while merchants, e-commerce businesses and enterprises can benefit from faster, cheaper settlements.”
A Regulated Bridge to Digital Dollars
By joining the Global Dollar Network, Fuze aims to simplify the process for its partners to launch trusted, USDG-powered products using its suite of API tools for payments, wallets, and stablecoins. A key aspect of this partnership is the regulatory confidence it offers. USDG, issued by Paxos, is required to hold 1:1 reserves in either dollar deposits, short-duration US government securities, or cash equivalents. These reserves are subject to regular audits and transparent monthly reports, ensuring credibility and stability.
Guillaume Kendall, Director of Business Development at Paxos Infrastructure, commented on the partnership, “USDG and the Global Dollar Network is a collaborative stablecoin ecosystem. Fuze is an important, regulated partner that helps the network to accelerate compliant stablecoin adoption and move money more efficiently across the Middle East and beyond.”
About Fuze
Fuze is MENA’s first regulated digital assets infrastructure provider, offering financial institutions and businesses cutting-edge tools to integrate digital asset services securely and efficiently. Through its Digital-Assets-as-a-Service platform, Fuze enables banks and fintechs to embed regulated digital assets products for their customers. The company also provides an Over-The-Counter (OTC) service that supports institutions, funds, and high-net-worth individuals in executing large digital asset trades. Fuze was founded by a team of experts from fintech and traditional finance, including CEO Mohammed Ali Yusuf (formerly of Checkout.com and Visa), COO Arpit Mehta, and CTO Srijan Shetty (formerly of Goldman Sachs and Microsoft).
About Global Dollar Network
Global Dollar Network is a fast-growing stablecoin network powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe. It offers a transparent and equitable economic model that rewards partners for their contributions. The network’s partners include industry leaders such as Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, and Worldpay.
Source: Zawya
