Airwallex is investing $43 million in the UAE over the next five years, according to a statement carried by PRLog.

The global payments platform is funding new financial products and senior hires in Dubai as part of a wider push across the UK, Europe, the Middle East and Africa.

The first phase is already underway. Airwallex has expanded its Dubai office and made several senior hires this year, drawing on local and international talent based in the UAE.

The investment builds on In-Principle Approval Airwallex has secured from the Central Bank of the UAE for Stored Value Facilities and Retail Payment Services (Category II) licences.

The company is working toward full approval to launch services under those licences in 2026.

Airwallex is framing the UAE as a hub for its regional growth rather than a satellite office run from elsewhere.

Or Liban, managing director for the Middle East, Benelux and Nordics at Airwallex, said the investment addresses a gap in how UAE businesses currently handle multi-currency operations.

“Businesses in the UAE are scaling into more markets and handling more currencies than ever, but too many are still held back by financial infrastructure built for a single one,” Liban said. “This investment lets us close that gap. We’re growing our Dubai team and building new products to meet the needs of the region’s most ambitious companies, many of which are trading internationally from day one.”

The timing lines up with the scale of the opportunity. The UAE’s ecommerce market is forecast to reach $21 billion by 2031, and businesses scaling across borders need multi-currency infrastructure that can keep pace.

Airwallex has held a presence in the UAE since 2024, when it committed to securing the licences needed to launch its products in the market and support the wider ecosystem.

The Dubai build-out also coincides with a broader institutional push at the company.

Airwallex’s new chief financial officer, Pranav Sood, is due to speak at Abu Dhabi Finance Week in December about the regional investment and the modern finance function.

Featured image: Edited by Fintech News UAE based on an image by nikitabuida via Magnific.