DMCC, the global business hub that fuels international trade through Dubai, has entered into a strategic partnership with Swedish fintech innovator Vermiculus. The MoU furthers DMCC’s wider mission to enhance innovation and position Dubai as a global hub for technology and trade, home to almost 26,000 companies in its ecosystems.
The alliance will have the two firms explore joint work in the implementation of key financial technology solutions for clearing houses and exchanges as well as central securities depositories, including knowledge transfer programs and joint projects.
As the parent of Dubai Gold and Commodities Exchange (DGCX) and the Dubai Commodities Clearing Corporation (DCCC), the new partnership is part of DMCC’s wider technology strategy and complements its position as an enabler and champion of implementing AI solutions across industries.
Established in 2019, Vermiculus combines decades of experience in creating next-generation, cloud-native systems for exchanges, clearing houses and central securities depositories. Through the integration of leading-edge system design with AI-powered capabilities, Vermiculus allows financial institutions to become more resilient, scalable and efficient.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Innovation is reshaping the future of trade and finance. By signing this MoU with Vermiculus, we’re laying the groundwork for collaboration that drives knowledge exchange, technology adoption and new opportunities for nearly 26,000 companies in our community. This MoU complements our existing partnerships by exploring fintech solutions that further enhance DMCC’s broader ecosystem, advancing our mission to help global businesses thrive from Dubai.”
Nils-Robert Persson, Founder and Chairman, Vermiculus, stated: “At Vermiculus, we specialize in providing state-of-the-art technology that satisfies mission-critical requirements of exchanges and financial institutions globally.
With more than 25 years of experience handling some of the globe’s largest exchanges, clearing houses and CSDs, our team has profound expertise complemented by innovation to provide unparalleled quality and reliability in each solution we deliver.”
By collaborating with one of the globe’s most vibrant business hubs, DMCC, we have a chance to dive deeper into areas of commonality and development. We welcome the possibility of merging our capabilities with DMCC’s vision to shape innovation and facilitate the future of international trade.”
The MoU is Issued during a period of building economic and commercial relations between Sweden and the United Arab Emirates, supported by a common emphasis on promoting innovation and technology-led development.
By establishing closer ties with a world-leading fintech firm like Vermiculus, DMCC further diversifies the high-impact partnerships it draws in to establish Dubai as an international business and innovation hub.
