Fuze, one of the fastest-growing digital asset infrastructure firms in the Middle East and Turkey, has closed a $12.2 million Series A round. The investment was co-led by Galaxy (TSX: GLXY) and e& capital, the venture arm of tech giant e& (ADX: EAND).

Based in Abu Dhabi, Fuze offers regulated digital asset infrastructure to banks, fintechs, and businesses. Its platform includes Digital Assets-as-a-Service, an Over-The-Counter (OTC) trading desk, stablecoin infrastructure, and payment services through its newly launched FuzePay.

The fresh funding will support Fuze’s expansion across the region and globally. It will also help accelerate product development, ensure compliance, and bring in top-tier talent.

“Strategically, Galaxy’s comprehensive digital asset capabilities and e&’s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption,” said Mo Ali Yusuf, CEO and Co-Founder at Fuze. “We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.”

Galaxy sees the Middle East as a major opportunity for digital asset growth. “We are thrilled to partner with Fuze and lead this Series A round,” said Leon Marshall, CEO of Galaxy Europe. “The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.”

Fuze has been backed from the start by Further Ventures, an ADQ-backed venture builder. Mohamed Hamdy, Managing Partner at Further Ventures, said, “This fundraising round marks an important milestone for Fuze, a company that Further Ventures backed since inception. We’re proud to welcome leading global investors – including Galaxy, e& capital, and others – to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.”

For e&, the deal is a strategic fit. “With our investment in Fuze, we’re excited to align with a team that’s setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like,” said Harrison Lung, Group Chief Strategy Officer at e&. “There’s a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.”

Since launching in 2023, Fuze has processed over $2 billion in digital assets volume and worked closely with regulators to ensure compliance. The company was founded by Mo Ali Yusuf (formerly at Visa and Checkout.com), Arpit Mehta (ex-Simpl and Clear), and Srijan Shetty (formerly at Goldman Sachs and Microsoft).