XTransfer Receives In-Principle Approval for Retail Payment Services Licence in UAE
XTransfer has received conditional approval from the Central Bank of the United Arab Emirates (CBUAE) to operate as a retail payment services provider. This marks an important step in XTransfer's global regulatory expansion and its strategic focus on strengthening trade connectivity across the Middle East and Africa. The UAE is positioned as a key regional hub for international trade, particularly between China and African markets. With this licence, XTransfer aims to provide secure and compliant cross-border payment solutions tailored to businesses operating within these regions. The approval follows successful licensing in major Asian and European markets, reinforcing the company's commitment to regulated expansion. XTransfer’s CEO Bill Deng emphasized the UAE’s role as a critical gateway for global trade flows between Asia, the Middle East, and Africa. This development is expected to enhance XTransfer’s ability to support SMEs engaged in cross-border commerce by offering more accessible payment services.
