UAE residents cover more than 200 nationalities and more than $40bn is moved annually across borders by both individuals and businesses.
,The licence from the central bank covers two categories – stored value facilities and retail payment services.
,Joyce Lau, Country Manager, Wise UAE said: “These regulatory approvals mark a significant milestone for Wise in the UAE, and we’re grateful for the CBUAE’s collaborative approach and commitment to fostering financial innovation,” said Joyce Lau, country manager, Wise UAE.
,Wise now boasts 70 regulatory licences worldwide. It also received in-principle regulatory approval from the Reserve Bank of India to operate as a payment aggregator earlier this year.
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