A blockchain payment provider has obtained complete regulatory approval from the Dubai Financial Services Authority (DFSA) to deliver cross-border cryptocurrency payment solutions in the United Arab Emirates (UAE).
The firm announced on March 13 that it secured its DFSA license, enabling it to operate within the Dubai International Financial Center (DIFC), a UAE free-economic zone with its own tax regulations and governance framework.
This news follows closely on the heels of the earlier announcement made six months prior, where the company had indicated it received initial approval for the DFSA license. On October 1, 2024, they disclosed plans to become licensed by the DFSA as part of their strategy to introduce digital asset infrastructure in the UAE.
Facilitating blockchain-driven global payments for businesses in the UAE
“We are entering an extraordinary period of growth for the crypto industry, fueled by enhanced regulatory clarity globally and rising institutional acceptance.”
The organization also indicated a growing demand for cross-border payments across the Middle East. This interest is not only coming from cryptocurrency-native companies but is also being driven by traditional financial institutions.
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The first crypto payment provider in the DIFC
”We are excited that the company is reinforcing its commitment to Dubai by securing a DFSA license, making it the first blockchain-enabled payment provider in DIFC,” he stated.
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