Latest news with #AlteryMENA
Fintech News ME
9 hours ago
- Business
- Fintech News ME
Altery MENA Receives DFSA License to Operate in UAE
Altery, a UK-based fintech company, has confirmed that its MENA subsidiary, Altery MENA, has been granted a regulatory license by the Dubai Financial Services Authority (DFSA). The authorisation forms part of Altery's broader strategy to develop regionally compliant financial hubs. The UAE, particularly noted for its high uptake of digital payments and forward-leaning regulatory environment, has been identified by Altery as a key location for regional operations. With the new license, Altery MENA is permitted to facilitate the collection and expenditure of funds in local currencies (AED/GCC) within the UAE. The license does not cover activities related to cryptocurrency or cross-border money transfers. However, the company stated that this approval marks 'a critical first step,' as it allows for onboarding of users in a priority market and the establishment of the necessary compliance infrastructure. Altery is currently working with the DFSA to implement the operational, technical, and compliance frameworks required ahead of its market launch. The firm said the approval signals a 'strategic milestone,' underlining its commitment to regulated expansion and alignment with international financial standards.
Zawya
10 hours ago
- Business
- Zawya
Dubai: Altery scales financial services in MENA via DFSA license
Mubasher: Altery MENA Limited, a subsidiary of UK-based fintech Altery Limited, secured a regulatory license from the Dubai Financial Services Authority (DFSA), according to a press release. This move supports Altery's global strategy to establish regional financial hubs in the MENA region, particularly the UAE, leveraging its high digital payment adoption and progressive regulatory environment. Altery MENA is currently authorized to allow customers to collect and spend funds in local currency (AED/GCC) within the UAE. Although the license does not extend to crypto or international money transmission, it provides regulatory legitimacy, enabling user onboarding in an important market and creating a compliance infrastructure for future expansion. Meanwhile, the fintech is working closely with the DFSA to operationalize the license, ensuring all compliance, operational and technical components are aligned for a smooth go-to-market rollout.
