XTransfer Secures Retail Payment Services Licence in UAE

XTransfer, a leading B2B cross-border trade payment platform, has secured in-principle approval for a Retail Payment Services Licence from the Central Bank of the UAE. This development marks a significant step in the company's regulatory expansion and its growing presence in the Middle East.

According to the announcement, upon completion of the pre-issuance conditions, the licence will allow XTransfer to serve mainland UAE clients and expand its regulated B2B payment services in the country. The company aims to provide compliant, secure, and efficient payment solutions tailored for cross-border transactions.

Bill Deng, Founder and CEO of XTransfer, highlighted the importance of this approval. "Receiving conditional approval from the Central Bank of the UAE is a key milestone for XTransfer's global regulatory expansion," Deng said. "The UAE is one of the world's most important trade hubs and an essential gateway between Asia, the Middle East, and Africa. This approval reinforces our confidence in the UAE market and its long-term growth potential."

The UAE plays a crucial role in XTransfer's strategy for the Middle East and Africa. As a major trade and re-export hub, it connects Chinese trade with Africa and other emerging markets. With this new licence, XTransfer aims to strengthen its support for trade flows between China, the Middle East, and Africa, offering businesses more accessible and reliable cross-border payment services.

XTransfer's journey to international regulatory compliance has been marked by successful licensing in major trade hubs across Asia and Europe. The UAE licence is another significant milestone in the company's international regulatory roadmap, reflecting its growing presence in the Middle East.

The company intends to continue investing in regulated markets to strengthen its payment infrastructure and support small and medium-sized enterprises (SMEs) and trading businesses involved in cross-border commerce. With over 1 million registered SMEs globally and a transaction processing volume (TPV) of over US$60 billion in 2025, XTransfer continues to solidify its position as a leading player in the B2B cross-border trade payment space.