A treasury operating system designed for global businesses has received initial approval from the Dubai Financial Services Authority (DFSA) for a financial services license. This crucial step supports the company’s aim to expand its payments and treasury platform into the Middle Eastern market. Once a full license is granted, the company plans to offer an array of services including payment account operations, issuance of payment instruments, and advisory services related to money services, such as payment initiation and account information.
The CEO expressed that achieving this in-principle approval marks a significant progress on the path to entering the Middle East markets. Highlighting the region’s importance as a global commerce hub, the company is dedicated to providing treasury solutions and payment systems that adhere to high standards of compliance, trust, and innovation.
Dubai and the wider UAE region are pivotal areas for the company’s growth strategy, driven by robust digital adoption, a sophisticated financial ecosystem, and a forward-thinking regulatory environment. The company aims to support small and mid-sized enterprises (SMEs) in this region, offering modern treasury solutions that simplify financial complexities and enhance cross-border business opportunities. By collaborating with the DFSA, the company ensures alignment with regional standards, while building essential financial infrastructure for global operations in Dubai.
The Chief Compliance Officer commented that this approval mirrors the DFSA’s comprehensive regulatory framework and reflects a mutual goal to create resilient, transparent financial services. He emphasized the significance of this milestone in pursuing full licensing and reinforced the company’s commitment to constructing a trusted and compliant business.
Already possessing regulatory approvals in key international jurisdictions such as Singapore, Australia, New Zealand, Canada, the United States, and the United Kingdom, the company is poised for further expansion in Dubai’s financial landscape. This growth not only aims to benefit the company itself but also to empower local enterprises that are essential to the region’s economic evolution.