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Wise Secures UAE Central Bank Approval to Launch Services

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Wise has received regulatory approval from the Central Bank of the UAE (CBUAE) to offer its services in the country. The approvals cover two categories: Stored Value Facilities and Retail Payment Services, Category 2. This development will allow Wise to introduce its products, including Wise Account and Wise Business, to individual and business customers in […]

The post Wise Secures UAE Central Bank Approval to Launch Services appeared first on Fintechnews Middle East.

Crypto.com Receives In-Principle Approval for UAE SVF License

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Foris DAX Middle East, trading as Crypto.com, has received In-Principle Approval (IPA) from the Central Bank of the UAE (CBUAE) for a Stored Value Facilities (SVF) license. Once the final license is granted, the company will be able to provide digital payment services for Dubai Government fees in UAE dirhams or dirham-pegged stablecoins, through the […]

The post Crypto.com Receives In-Principle Approval for UAE SVF License appeared first on Fintechnews Middle East.

Presight, UAE Cyber Security Council Partner on AI and Cybersecurity

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Presight has signed a MoU with the UAE Cyber Security Council (CSC). Under the agreement, the Council’s CyberE71 programme will join Presight’s AI-Startup Accelerator as a partner to support the development of secure and responsible AI innovation in the UAE and beyond. The collaboration aims to integrate cybersecurity expertise and mentorship into the accelerator, promoting […]

The post Presight, UAE Cyber Security Council Partner on AI and Cybersecurity appeared first on Fintechnews Middle East.

Bybit Secures UAE Virtual Asset Platform Operator License from SCA

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Bybit has secured a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the UAE. The license allows Bybit to offer its full range of global products and services in compliance with UAE regulations. It follows the firm’s receipt of In-Principle Approval (IPA) from the SCA in February, with support from […]

The post Bybit Secures UAE Virtual Asset Platform Operator License from SCA appeared first on Fintechnews Middle East.

Revolut Co-founder Nik Storonsky Relocates to UAE After UK Tax Rule Change

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Nik Storonsky, co-founder of the digital banking app Revolut, has become the latest billionaire to relocate from the UK following the government’s decision to scrap a long-standing tax break earlier this year. According to Forbes, Storonsky now lists the UAE as his place of residence in a UK corporate filing for his family office, released […]

The post Revolut Co-founder Nik Storonsky Relocates to UAE After UK Tax Rule Change appeared first on Fintechnews Middle East.

Wio Bank Surpasses AED 50 Billion in Customer Deposits

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Wio Bank PJSC has surpassed AED 50 billion in total customer deposits in less than three years since its launch. The bank’s total customer base has grown by 72% year-on-year, driven by a 93% increase in Wio Personal customers and a 42% rise in Wio Business customers. Over the same period, customer deposits have almost […]

The post Wio Bank Surpasses AED 50 Billion in Customer Deposits appeared first on Fintechnews Middle East.

UK Fintech Verto Launches in UAE to Boost Cross-Border Payments

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London-based fintech firm Verto has officially launched its operations in the UAE, marking a significant step in strengthening cross-border payment capabilities between the UAE and emerging market currency corridors, particularly in Africa. Processing over US$25 billion annually for clients such as Unilever and Maersk, the company’s platform aims to provide a faster, more secure, and […]

The post UK Fintech Verto Launches in UAE to Boost Cross-Border Payments appeared first on Fintechnews Middle East.

Huru Launches to Expand Financial Access for UAE’s Unbanked

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Huru, a UAE-based fintech company licensed by the Central Bank of the UAE (CBUAE), has entered the market with the aim of serving the country’s unbanked and underbanked communities through a comprehensive financial management app. The company seeks to address long-standing gaps in access to essential financial services and promote financial inclusion. The platform integrates […]

The post Huru Launches to Expand Financial Access for UAE’s Unbanked appeared first on Fintechnews Middle East.

UAE and Türkiye Central Banks Agree on Currency Swap and Payment Cooperation

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The Central Bank of the UAE (CBUAE) and the Central Bank of the Republic of Türkiye (CBRT) have signed a bilateral currency swap agreement between the UAE dirham (AED) and the Turkish lira (TRY), alongside two MoUs. The swap agreement, valued at AED 18 billion and TRY 198 billion, is intended to support bilateral trade […]

The post UAE and Türkiye Central Banks Agree on Currency Swap and Payment Cooperation appeared first on Fintechnews Middle East.

Emirates Islamic, Amazon UAE and Mastercard Launch First Amazon Credit Card in MENA

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Emirates Islamic has partnered with Amazon UAE and Mastercard to launch the first Amazon-branded credit card in the Middle East and North Africa. The card, which will be available exclusively in the UAE, is designed to provide lifestyle-related benefits and flexible payment options in line with the country’s growing digital retail sector. The Amazon Emirates […]

The post Emirates Islamic, Amazon UAE and Mastercard Launch First Amazon Credit Card in MENA appeared first on Fintechnews Middle East.

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