Altery, a UK-based fintech company, has confirmed that its MENA subsidiary, Altery MENA, has been granted a regulatory license by the Dubai Financial Services Authority (DFSA).

The authorisation forms part of Altery’s broader strategy to develop regionally compliant financial hubs.

The UAE, particularly noted for its high uptake of digital payments and forward-leaning regulatory environment, has been identified by Altery as a key location for regional operations.

With the new license, Altery MENA is permitted to facilitate the collection and expenditure of funds in local currencies (AED/GCC) within the UAE.

The license does not cover activities related to cryptocurrency or cross-border money transfers.

However, the company stated that this approval marks “a critical first step,” as it allows for onboarding of users in a priority market and the establishment of the necessary compliance infrastructure.

Altery is currently working with the DFSA to implement the operational, technical, and compliance frameworks required ahead of its market launch.

The firm said the approval signals a “strategic milestone,” underlining its commitment to regulated expansion and alignment with international financial standards.

Featured image credit: Edited by Fintech News Middle East, based on image by Wael Hneini via Unsplash