XTransfer Nears UAE Retail Payment Licence, Expanding Middle East…

Event summary

XTransfer received in-principle approval for a Retail Payment Services Licence from the UAE Central Bank on September 2, 2026.
The licence will enable XTransfer to serve mainland UAE clients upon completing pre-issuance conditions.
XTransfer processed over $60 billion in transaction volume in 2025, serving 1 million registered SMEs globally.
The UAE is a key market in XTransfer's Middle East and Africa strategy, connecting Chinese trade with Africa.

The big picture

XTransfer's regulatory approval in the UAE strengthens its position as a key player in facilitating trade between China, the Middle East, and Africa. The UAE's role as a major re-export hub makes this approval strategically significant for XTransfer's expansion in emerging markets. This move aligns with broader industry trends of digital payment platforms seeking regulatory approvals to enhance credibility and operational reach.

What we're watching

Regulatory Execution: Whether XTransfer can complete pre-issuance conditions and fully operationalize the licence in the UAE.
Market Penetration: The pace at which XTransfer can expand its client base in the UAE and broader Middle East region.
Competitive Dynamics: How this approval positions XTransfer against other cross-border payment providers in the UAE market.