NymCard, an embedded finance platform based in Dubai, has been officially licensed to provide Open Finance services under the Central Bank of the UAE’s Open Finance regulation.
With this development, NymCard is among the first entities in the UAE to offer regulated payment functionality within a broader financial infrastructure through a modular platform.
Omar Onsi, CEO of NymCard, said:
“Open Finance is a pivotal shift in how financial products are built and delivered. This milestone reflects our commitment to advancing the UAE’s financial ecosystem by delivering impactful financial experiences.”
NymCard’s approach differs from providers focused only on connectivity. Instead, it offers complete financial products through a single integration.
The platform is designed to support a range of sectors, including fintech firms, small and micro businesses, banks, and marketplaces that aim to embed regulated financial features into their services.
Ihsan Alhayek, SVP of Open Finance at NymCard, said:
“We’re enabling real-world payment use cases through secure, consent-driven A2A flows, giving consumers more choice and merchants a faster, more cost-efficient alternative. It’s a major step toward building a more open and accessible payment landscape within a fully regulated framework.”
The announcement follows NymCard’s recent US$33 million Series B funding round, led by QED Investors.
Featured image credit: edited from freepik
