Digital bank Wio has partnered with Meydan Free Zone to provide digital banking services to startups, freelancers, and small and medium enterprises operating in the free zone.
Meydan Free Zone is a digital free zone in Dubai which was founded in 2009. The free zone issues Free Zone Limited Liability Company (FZ-LLC) licenses which allows for complete foreign ownership.
Wio is an Abu Dhabi-based startup which launched its digital banking app for businesses in September 2022. One of its board members made headlines recently for launching a new US$200 million venture fund.
The partnership agreement was signed by Wio’s Chief Commercial Officer Prateek Vahie and Meydan Free Zone Associate Director Hamed Ahli at a ceremony held on September 28.
“Wio will focus on introducing state-of-the-art digital banking apps for customers and embedding financial services in digital businesses that are frequented by consumers.
We will also provide a top-quality banking-as-a-Service platform to fintech and non-financial businesses to accelerate the creation of innovative end-to-end customer solutions,”
said Jayesh Patel, CEO, Wio Bank.
