Khaberni - Arab Xelerate AB Xelerate, the innovative arm and fintech accelerator of Arab Bank, announced the signing of a memorandum of understanding with "Fuze", a leading provider of digital asset infrastructure in the Middle East and North Africa, to enhance collaboration between the two parties in developing digital asset products and services in Jordan.
This collaboration aims to support the implementation of economic modernization vision in Jordan by contributing to innovation and enhancing the digital infrastructure of the financial sector, and developing financial services that keep pace with future requirements, thereby enhancing competitiveness and driving economic growth in accordance with relevant regulatory instructions and requirements.
Within the framework of this collaboration, AB Xelerate and "Fuze" will jointly study and evaluate potential use cases for digital assets, relying on "Fuze"'s digital asset-as-a-service infrastructure within a controlled and regulated environment, alongside Arab Bank's advanced banking expertise and wide regional spread. The collaboration will also focus on developing secure, compliant, and user-friendly digital solutions for financial assets that align with regulatory requirements and security standards, which can be integrated into Arab Bank's existing digital channels.
In his comments on this collaboration, Eric Modave, Chief Operating Officer of Banking Operations and Systems at Arab Bank, said: "Digital assets are at the forefront of the financial services sector, and the collaboration with "Fuze" as a regional specialist in digital asset infrastructure is part of Arab Bank's commitment to providing innovative, secure, and compliant solutions that create sustainable value for our customers."
On his part, Mohamed Ali Yousuf, the co-founder and CEO of "Fuze", said: "We are honored to collaborate with AB Xelerate in developing digital asset usage methods, supported by the Jordanian regulatory sandbox (JoRegBox). Responsible financial services innovation should be based on a secure and compliant infrastructure, and we look forward to supporting the AB Xelerate team with advanced next-generation solutions in the coming months."
It is worth noting that the memorandum of understanding is part of AB Xelerate's ongoing vision to develop digital services and solutions for Arab Bank, aiming to support the exploration and development of a digital asset strategy, product design and implementation, operating models, risk and compliance requirements, and technical integration, within the existing regulatory frameworks, including participation in the Jordanian regulatory sandbox, under the supervision of the Central Bank of Jordan and the Jordan Securities Commission.
This collaboration reflects the increasing interest from institutions in developing solutions for digital assets within regulated environments, and represents the market's interest in reliable and innovative solutions led by banks in this field. The parties, in this collaboration, reaffirm their commitment to responsible innovation in line with existing regulatory requirements, including adherence to risk management frameworks and customer protection standards.
The collaboration between AB Xelerate and "Fuze" continually supports the evolving digital asset ecosystem in the region, amidst financial institutions' efforts to adopt modern technologies within clear regulatory frames.
For more information about AB Xelerate, please visit: abxelerate.com
To learn about the digital asset infrastructure services offered by "Fuze", please visit: fuze.finance
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* This collaboration is subject to regulatory approvals.
About Arab Bank
Founded in 1930, and headquartered in Amman, Jordan, Arab Bank is one of the largest international Arab banking networks with over 600 branches worldwide. The bank offers a wide range of banking products and services designed to meet the needs of individuals, corporates, and international financial institutions. These services cover various areas, including personal banking, corporate and financial institution services, and treasury operations. Arab Bank has a strong international presence in major global markets and major financial centers, including London, Dubai, Singapore, Shanghai, Geneva, Paris, Sydney, and Manama.
For more information, please visit: arabbank.com
About AB Xelerate
AB Xelerate is the innovative arm and fintech accelerator of Arab Bank, acting as a strategic connection point between institutional innovation and emerging technology in the financial services sector within the Middle East and North Africa region.
AB Xelerate supports the adoption of emerging technologies through a Corporate Venture Capital model that identifies and collaborates with high-potential emerging tech companies to ensure compatibility with Arab Bank's strategies, while enabling these companies to expand and achieve operational readiness on a large scale.
The accelerator focuses on establishing dynamic partnerships involving strategic joint ventures, marketable agreements, technical integrations, and innovative partnerships, in addition to providing investment support that contributes to adopting innovation internally within the bank's different departments.
AB Xelerate embodies Arab Bank's commitment to driving digital transformation and innovation in the financial services sector, and facilitating collaboration between banks and startups to deliver innovative solutions that meet evolving market needs.
For more information, please visit: abxelerate.com
About "Fuze" Company
"Fuze" is the first of its kind in the Middle East and North Africa region as a regulated digital asset infrastructure provider, offering advanced and secure tools for banks and fintech companies to efficiently integrate digital asset services. Through a solution-driven approach, "Fuze" helps financial institutions to effectively plan, organize, and execute digital infrastructure, enabling them to launch regulated and world-class products quickly and safely.
"Fuze" comprises a team of experts supporting the rapidly growing digital asset ecosystem, working closely and collaboratively with regulatory authorities within a long-term vision for the sector's development.
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