XTransfer receives in-principle approval for UAE payment licence

XTransfer, a B2B cross-border trade payment platform, has received in-principle approval for a Retail Payment Services Licence from the Central Bank of the UAE. Once pre-issuance conditions are met, the licence will allow the company to serve mainland UAE clients and expand its regulated payment services within the country.

The company intends to use the licence to provide compliant and secure payment solutions for businesses involved in international trade. XTransfer views the UAE as a critical component of its Middle East and Africa strategy, serving as a hub to connect Chinese trade with Africa and other emerging markets. This regulatory milestone follows the company's previous licensing successes in major trade hubs across Asia and Europe.