Dubai Multi Commodities Centre (DMCC) has inked a partnership agreement with Swedish fintech company Vermiculus as the business hub looks to expand its technology capabilities and deepen connections with Nordic markets.

The memorandum of understanding between DMCC and the Stockholm-based firm focuses on financial technology solutions for exchanges, clearing houses and securities depositories. Both organizations will explore joint projects and share technical expertise under the arrangement.

DMCC Partners with Swedish Fintech Vermiculus in Technology Push

DMCC operates the Dubai Gold and Commodities Exchange and Dubai Commodities Clearing Corporation, making technology partnerships particularly relevant to its core business functions. The agreement comes as the organization serves nearly 26,000 member companies across its various business ecosystems.

Vermiculus, which started operations in 2019, specializes in cloud-based systems for financial market infrastructure. The company develops platforms that incorporate artificial intelligence capabilities for exchanges and clearing organizations worldwide.

"Innovation is reshaping the future of trade and finance," DMCC Executive Chairman and CEO Ahmed Bin Sulayem said in a statement. "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."

UAE and Sweden Strengthen Ties

The Swedish company brings experience from working with major global exchanges and clearing houses over the past quarter-century. Its founder and Chairman, Nils-Robert Persson, highlighted the firm's focus on "mission-critical needs of exchanges and financial institutions worldwide."

"Partnering with DMCC, one of the world's most dynamic business districts, provides a unique opportunity to explore areas of mutual interest and growth," Persson noted.

The most relevant recent cooperation occurred in May 2025, when a UAE delegation led by Assistant Foreign Minister for Advanced Science and Technology Omran Sharaf concluded a two-day visit to Stockholm.

The agreement doesn't specify financial terms or timeline details for potential joint projects. Both organizations indicated they would focus initially on identifying areas where their expertise could complement each other.

The most well-known Swedish fintech is Klarna, the leader in the Buy Now, Pay Later (BNPL) market. The company has been preparing for its Wall Street debut for several months, and many indications suggest that it could take place as early as September.