Wise obtains UAE Central Bank approval for payment licences #
Wise has received final approval from the Central Bank of the United Arab Emirates (CBUAE) for its Stored Value Facilities (SVF) and Retail Payment Services (RPS) licences, the company announced in a press release. The authorisation allows Wise to offer its international money transfer and multi-currency account services directly under the UAE’s new regulatory framework for payment providers
The approval makes Wise one of the first global fintechs fully licensed under the CBUAE’s updated payment regulations, enabling local users to hold funds, send money internationally, and make domestic transfers in compliance with national rules. The company plans to expand its presence in the region through its Dubai office, supporting individuals and businesses with faster, lower-cost international payments
Wise said the milestone reflects the UAE’s growing openness to fintech innovation and its ambitions to position itself as a regional financial hub. The new licences also align with Wise’s broader strategy to secure local regulatory status in key markets, following similar approvals in Singapore, the UK, and the EU.