XTransfer Secures In-Principle Approval for Retail Payment Services Licence in the UAE
XTransfer has received conditional approval from the Central Bank of the United Arab Emirates (UAE) to operate a retail payment services licence. This marks an important step in XTransfer's global regulatory expansion and its strategic push into the Middle East region, which it views as critical for cross-border trade between Asia, Africa, and Europe. The company plans to offer accessible cross-border payment solutions once all pre-issuance conditions are met, targeting businesses operating within the UAE mainland. This follows XTransfer's successful licensing in key Asian and European markets. The firm also aims to expand its regulated B2B services for international trade transactions and continues investing in infrastructure to support small-to-medium enterprises (SMEs) engaged in global commerce. Earlier this year, XTransfer signed a memorandum of understanding with Société Générale to enhance cross-border payment systems between China and Europe. The company currently serves over one million registered SME clients globally.
