Fuze and Mamun sign a landmark MoU to facilitate Sharia-compliant trade finance through stablecoins, unlocking new capital access for SMEs across the MENA region.
Strategic Collaboration Aims to Bridge Crypto and Real-World Financing in the GCC
UAE-based digital asset infrastructure provider Fuze has signed a landmark memorandum of understanding (MoU) with Oman’s Mamun, a Sharia-compliant alternative finance and investment platform. The partnership is set to revolutionise regional trade finance by enabling the use of stablecoins—specifically USDT—to back short-term, Sharia-compliant lending solutions.
The agreement paves the way for both regional and global retail and institutional investors to take part in financing trade-driven businesses using digital assets. Participating companies will gain access to fiat financing in local currencies, empowering them to pay suppliers and facilitate domestic and international trade. According to a joint press release, this innovative model will open new avenues for businesses to tap into a broader base of investors while maintaining full compliance with Islamic finance principles.
Highlighting the dire need for such initiatives, the release notes that the trade credit gap in the MENA region alone is estimated at $250 billion, with the global shortfall surpassing $1 trillion. Small and medium-sized enterprises (SMEs), in particular, are disproportionately affected—often overlooked by traditional banks and financial institutions. Simultaneously, the MENA region is home to more than 40 million crypto investors holding approximately $300 billion in digital assets, yet with limited access to compliant, high-yield trade finance opportunities.
Under the new agreement, Fuze will provide the regulated digital asset infrastructure—offering services such as on/off ramp solutions, custody, and asset conversion—while Mamun will focus on sourcing and originating compliant trade finance deals. The integration aims to streamline cross-border settlements and address inefficiencies in SME financing through a digitally native framework.
Mo Ali Yusuf, CEO of Fuze, said, “The alignment between Fuze and Mamun highlights a growing trend – the use of stablecoins like USDT not just for trading or remittance, but as a tool for working capital and liquidity in real-world finance.”
Mamun’s Chief Commercial Officer, Mohammed Al-Tamami, added, “Bringing stablecoins into Sharia-compliant private credit opens new avenues for cross-border trade finance. At Mamun, we’re not just innovating – we’re aligning digital asset infrastructure with the capital needs of the real economy. This collaboration with Fuze allows us to better serve both investors and businesses.”
Since launching in Q3 2023, Mamun has already facilitated nearly $10 million in trade financing, with a 2025 target of $20 million. The platform supports investors from more than 45 countries, including retail clients, high-net-worth individuals, and family offices. Its underlying technology also powers financial systems for Oman Housing Bank and three major telecom firms, highlighting its scalability and sectoral reach.
Fuze, on the other hand, is the region’s first regulated infrastructure provider of its kind, helping financial institutions and enterprises launch secure digital asset services. The company enables wealth management, payments, and more through a solutions-based, compliant approach tailored for the MENA market.
This pioneering partnership signals a broader shift in how digital assets are being adopted to meet real-world financing needs across emerging markets, particularly within the framework of Islamic finance.
