Fuze, a leading digital assets infrastructure provider in the MENA region, has partnered with Fils, a platform integrating sustainability and climate action into business operations, to launch the first-ever sustainable digital asset solution in the Middle East, Africa, and Turkey. This collaboration marks a significant milestone in combining financial innovation with environmental responsibility.
By leveraging Fils’ Layer-1 blockchain, the partnership ensures transparency, traceability, and trust in every transaction. It enables customers to measure and offset the carbon footprint of their digital asset purchases. The initiative supports regional institutions and fintechs in meeting sustainability goals while navigating the growing demand for digital assets and aligning with global Environmental, Social, and Governance (ESG) targets.
The UAE’s rapidly expanding digital assets market is projected to generate $453 million in revenue by the end of 2024, with growth expected to exceed $616 million by 2028. This growth provides an opportunity to integrate sustainability into the digital economy, positioning Fuze and Fils as leaders in the shift towards a greener future.
Nameer Khan, Founder and CEO of Fils, highlighted the transformative potential of the partnership, emphasizing that it combines fintech innovation with climate action, providing a comprehensive solution that meets and exceeds global ESG expectations. Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, reinforced the importance of embedding sustainability in digital assets, ensuring long-term growth and environmental stewardship.
The partnership includes several initiatives aimed at promoting sustainability in digital assets. One key component is Carbon Footprint Insights, which provides real-time data on the environmental impact of transactions. This feature empowers customers to make informed decisions, helping them understand the carbon footprint associated with their digital asset purchases.
Another initiative is Offsetting Mechanisms, which allows customers to offset the carbon footprint of their digital asset transactions. This ensures that the environmental impact of these transactions is mitigated, fostering climate-positive actions.
Additionally, the partnership offers Ecosystem Support, assisting banks and fintechs in adopting sustainable practices that align with global ESG standards. This support encourages widespread adoption of green finance solutions across the region.
Fils, recognized by PwC and Deloitte, has made significant strides in sustainability, supporting over 105 banks, 1.5 million merchants, and 4 million wallets. The platform provides businesses with tools to integrate climate-positive solutions across industries, fostering trust through transparency.
Fuze, co-founded by Mohammed Ali Yusuf, Arpit Mehta, and Srijan Shetty, is MENA’s first regulated digital assets infrastructure provider. Fuze offers a suite of tools for securely integrating digital asset services and facilitating multi-currency transactions. It also provides Over-The-Counter (OTC) services for large digital asset trades.
In August 2023, Fuze raised $14 million in seed funding, signaling strong investor confidence in the future of digital assets. The partnership between Fuze and Fils sets a new standard for sustainability in fintech, providing businesses and financial institutions with the tools to contribute to a greener, more sustainable future.
