Ant International, a Singapore-based digital payment, digitization and financial technology provider, announced Monday two milestones that mark a significant step forward for its business expansion in the United Arab Emirates (UAE).
The firm said in a statement that it has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Investment Office (ADIO) and received In-Principle Approval (IPA) for the Stored Value Facilities (SVF) and the Retail Payment Services and Card Schemes (RPSCS) licenses from the Central Bank of the UAE (CBUAE).
These developments underscore Ant International's commitment to supporting the Central Bank’s digital transformation agenda and contributing to the UAE’s fintech ecosystem.
Ant International’s MoU with the Abu Dhabi Investment Office (ADIO) solidifies its commitment to the UAE by leveraging its technological expertise to support the growth of Abu Dhabi’s financial technology sector, empowering local businesses with advanced digital tools, and promoting financial inclusion and connectivity between the UAE and the rest of the world.
“With progressive regulation, robust digital infrastructure and a strategic location, Abu Dhabi is a key jurisdiction for fintech firms that operate globally and seek to partner for longevity,” said H.E. Badr Al-Olama, Director General of ADIO.
“This agreement with Ant International reflects a broader inflection point in digital finance, where scale is no longer just about reach, but about resilience, trust and regulatory clarity,”
“More than just welcoming global fintech players to join our thriving financial ecosystem, Abu Dhabi is actively shaping digital innovation for the future,” he added.
Meanwhile, Peng Yang, Chief Executive Officer of Ant International, said the support from ADIO has been instrumental in helping them to establish their presence in Abu Dhabi.
“This strategic collaborative relationship is foundational to our mission to empower local businesses, especially small and medium-sized enterprises (SMEs), and connect them to new global growth opportunities,” he added.
According to the statement, in-principle approval for CBUAE’s SVF and RPSC licenses is a prerequisite for obtaining the full licenses required to introduce Ant International’s innovative fintech solutions to the country.
Once the final licenses are granted, Ant International will be positioned to offer a comprehensive suite of payment and other related solutions in the UAE.
These include merchant acquiring, payment aggregation, e-wallet issuance, and domestic and cross-border fund transfers, which will help bolster the country’s digital ecosystem in line with the nation’s ‘We the UAE 2031′ digitalization and fintech strategy.
“Receiving this In-Principle Approval from the Central Bank of the UAE is a testament to our productive collaboration and shared vision for a digitally-driven, inclusive economy,
“We are grateful for the guidance and support of CBUAE’s Fintech Office as we work to bring our AI-powered fintech solutions spanning merchant services, wallet technology, and
digitization tools to help scale the UAE’s growth,” said Yang.
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