AU10TIX, an Israel and New York-based provider of identity verification and management solutions, has appointed Yair Tal as its new Chief Executive Officer. Tal, who brings more than two decades of leadership experience in payments, financial technology and localisation services, will focus on strengthening the company’s machine learning capabilities and supporting its international expansion through a regional strategy. He succeeds Dan Yerushalmi, who is stepping down to spend more time with his family. Before joining AU10TIX in April 2025, Tal served as Chief Executive of BLEND, an AI-powered localisation firm. He previously held the role of Senior Vice President and…

Visa has introduced its Visa+ service in Bahrain, enabling users to send money to Visa cardholders across the Gulf Cooperation Council (GCC) region using only the recipient’s mobile number. The service is currently available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank. Bahrain is among the first markets globally to adopt Visa+. Through Visa+, customers of BisB and Khaleeji Bank can transfer funds to Visa debit and prepaid cardholders in other GCC countries using a mobile number instead of sharing more sensitive details such as a 16-digit debit card number or IBAN. The initial rollout allows transfers from…

PayPal has announced a partnership with TerraPay, a global money movement company based in the London, to enable real-time fund transfers for PayPal users in the Middle East and Africa. The collaboration aims to simplify cross-border transactions by connecting banks, mobile wallets, and financial institutions, making them faster, more accessible, and easier to use. With the increasing demand for efficient and secure payment solutions, this partnership addresses gaps in financial connectivity and infrastructure, allowing individuals and businesses in the region to participate more fully in the global economy. Through PayPal account linking, TerraPay will facilitate seamless transfers for mobile wallet…

BridgeWise, a US-based AI-powered investment intelligence platform, has officially entered the Middle East after securing an operational license from the Dubai International Financial Centre (DIFC). In addition to the DIFC license, BridgeWise has secured a strategic investment from Emirates NBD. As part of its Middle Eastern expansion, BridgeWise has appointed Ayush Khatri as the Regional Head for the Middle East, North Africa, and Turkey (MENAT). Khatri, based in Dubai, brings a wealth of experience in financial services and strategy and will lead regional operations, partnerships, and growth initiatives. Founded in 2019, BridgeWise uses generative AI and machine learning to offer…

Global cloud communications platform Infobip has announced the appointment of Mirza Bukva as Director of Operator Partnerships for the Europe, Middle East, and Africa (EMEA) region. Bukva is a long-serving member of Infobip, having spent close to a decade with the company in a variety of leadership roles within its telecom partnerships division. He previously served as Head of Telecom Partnerships for Africa, where he focused on improving connectivity optimisation, monetising telecom products, and managing strategic partnerships. Before joining Infobip, Bukva built a career in sales and analytics, applying both relationship-driven strategies and data-focused decision-making to help deliver business results.…

According to new research from investment platform eToro, 87% of retail investors in the UAE now rely on fintech platforms to manage their finances, marking a significant shift in how financial services are accessed and trusted across the region. The survey highlights Dubai’s ascent as one of the world’s top five fintech cities, reflecting the UAE’s broader transformation in investor behaviour. George Naddaf, Managing Director MENA at eToro, commented: “Dubai’s position among the world’s top five fintech cities reflects a broader transformation in how investors across the UAE are engaging with financial services. eToro’s data shows a clear preference for…

BKN301 Group, a London-based fintech company specialising in Banking as a Service (BaaS) with operations across the Middle East, Europe and Africa, has completed a capital increase of US$23.8 million. The funding will support the company’s international growth plans, including potential expansion into the UAE and Saudi Arabia, as well as further development of its proprietary BaaS Orchestrator platform. The company provides technology solutions to traditional banks, digital banks and fintech firms, offering services such as core banking, payment processing, digital wallets, card issuing, API decoupling, cross-border transactions, open banking and AI and GenAI integration for third-party systems. The Series…

The Dubai International Financial Centre (DIFC) will host the third edition of the Dubai Fintech Summit on 12 and 13 May 2025 at Madinat Jumeirah, Dubai. Held under the theme ‘Fintech for All’ and under the patronage of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of DIFC, the summit will gather global industry leaders, innovators, and policymakers to discuss the trends and advancements shaping the future of the fintech sector. Sheikh Maktoum bin Mohammed said: “The Summit is set to attract over 8,000 attendees and 300…

The Registration Authority (RA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) have completed investigations into serious regulatory breaches involving AC Holding Limited (AC Holding), its sole shareholder and director Christopher Flinos, and related entities operating under the name ‘HAYVN’. The RA’s investigation determined that AC Holding exceeded its ADGM Special Purpose Vehicle (SPV) commercial license by acting as an unlicensed investment company. It processed transactions converting cryptocurrencies to fiat and vice versa and submitted four false annual accounts for the years 2019 to 2022. Furthermore, Christopher Flinos was found to have engaged in fraudulent…

The Qatar Central Bank (QCB) has introduced a new ‘Multiple Wallets per Mobile Number’ feature within the Qatar Mobile Payment (QMP) system, as part of its Third Financial Sector Strategy and efforts to improve mobile payment services in the country. In a statement posted on its X account, QCB said the feature allows users to register two separate wallets under the same mobile number with different payment service providers. Users will also be able to set a default account for receiving incoming transfers, and switch between accounts or change the default setting when needed. QCB described the move as a…

ShopUp, B2B commerce platform from Bangladesh, and Sary, a B2B marketplace and services platform in the Gulf, have merged to form SILQ Group. The merger connects Gulf markets and emerging Asia, creating a B2B commerce platform aimed at serving fast-growing consumer markets in the region and globally. The deal is backed by US$110 million in funding, led by Sanabil Investments, a company owned by Saudi Arabia’s Public Investment Fund (PIF), and Peter Thiel’s Valar Ventures. The financing includes both equity investment and a facility for SILQ Financial, the group’s financial services division. Combined, ShopUp and Sary have supported more than…

Standard Chartered and OKX, a cryptocurrency exchange and global on-chain technology company, have announced the launch of a collateral mirroring programme on April 10, 2025. This program aims to allow institutional clients to use cryptocurrencies and tokenised money market funds as off-exchange collateral for trading. This initiative improves security and capital efficiency for institutional clients by using a Globally Systemically Important Bank (G-SIB) to safeguard their collateral. Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, said: “Our collaboration with OKX to enable the use of cryptocurrencies and tokenised money market funds as collateral represents a significant…

The UAE Cabinet has approved support for the launch of Google Cloud’s first Cybersecurity Excellence Centre in Abu Dhabi. The centre is the result of a collaboration between the UAE Cybersecurity Council and Google Cloud. The Cybersecurity Excellence Centre will focus on collaboration, training, and talent development. It aims to foster partnerships with global academic institutions, deliver role-based cybersecurity training, and build local expertise. Training will be delivered by Mandiant, part of Google Cloud, offering immersive, scenario-based learning based on real-world cyberattacks. Dr. Mohamed Alkuwaiti, Head of Cyber Security for the UAE Government, said: “Our collaboration will not only help…

Basata Holding for Financial Payments, a Cairo-based fintech company specialising in digital payment solutions, has launched the “Basata Card” in partnership with Connect Money, another Egypt-based fintech firm focused on banking and financial technology services. The new card aims to support both individual consumers and merchants by offering secure and efficient financial transactions, in line with the country’s push towards a cashless, digital economy. The company plans to continue developing and adding new features, with a stated focus on improving the user experience and strengthening Egypt’s digital payments infrastructure. The Basata Card allows users to withdraw cash from ATMs across…

The Central Bank of Bahrain (CBB) has granted BPay Global a Payment Service Provider (PSP) license to operate in the Kingdom of Bahrain. BPay Global, a payment services company within the Binance Group, is now authorised to offer fiat-related services to Binance users worldwide. These services include fiat top-ups and withdrawals, custody, and other payment solutions. The license enables Binance users to open an e-wallet and conduct fiat top-ups via bank transfers or debit/credit card payments on the platform. Additionally, BPay Global is permitted to hold fiat currency on behalf of customers. Abdulla Haji, Director of the Licensing Directorate at…

Plus500, a London-based multi-asset fintech group, has launched a new subsidiary in the UAE, Plus500Gulf Securities, under a mainland license issued by the Securities and Commodities Authority (SCA). The SCA license allows Plus500 to broaden its customer acquisition efforts across the UAE mainland and expand its local product offering. This includes the potential introduction of services beyond contracts for difference (CFDs), such as share dealing, futures, and options on futures. Prior to this, Plus500 had been operating in the UAE under a Dubai Financial Services Authority (DFSA) license through the Dubai International Financial Centre (DIFC) for two years. With the…

Sipay, a payments and embedded finance platform based in Turkey, has raised US$78 million in a Series B funding round, bringing its valuation to over US$875 million. The round was led by Elephant VC, with participation from QuantumLight, the venture capital firm founded by Nik Storonsky. The company reported a fivefold increase in revenue year-on-year and closed the year with a US$600 million revenue run rate. This follows its US$15 million Series A round in June 2024, which was led by Anfa. Sipay plans to use the new funding to support its international expansion, particularly in emerging markets. The company…

The adoption of AI in the Middle Eastern banking sector could significantly contribute to regional economic growth, potentially adding as much as 13.6% to GDP by 2030, according to industry analysts. Finastra’s Financial Services State of the Nation 2024 survey reveals that banks in the UAE and Saudi Arabia are already accelerating their deployment of AI, positioning the region for potentially substantial economic and operational advancements. The report highlights that the UAE ranks among the top global adopters of AI in financial services, with 71% of its institutions having deployed or enhanced AI capabilities in the past year, supported by…

Although fintech remains a relatively nascent sector in Qatar, the industry is growing steady pace, fueled by increased adoption of digital payments and conducive government initiatives. In this article, we take a look at some of Qatar’s most prominent and influential fintech companies, exploring their value propositions, and delving into their recent milestones. For this list, we focus on private, independent fintech companies headquartered in Qatar, excluding those that have been acquired or which are affiliated with major banks, telecom providers, or established entities, such as Ooredoo Fintech, a subsidiary of Ooredoo Group, iPay by Vodafone Qatar’s Infinity Payment Solutions,…

Haball, a supply chain financing and payments fintech in Pakistan, has raised a US$52 million pre-Series A funding round, consisting of both equity investment and strategic financing. The equity portion, valued at US$5 million, was led by Zayn VC, Pakistan’s prominent venture capital firm. Additional investors included Majlis Advisory SPV, several private investors from Saudi Arabia, angel investors, and a large business conglomerate. The strategic financing component, amounting to US$47 million, was provided by Meezan Bank. This funding round follows Haball’s deliberate approach to responsible fundraising since its establishment in 2017. The company’s positive unit economics, strategic focus, and track…