XTransfer Secures In-Principle Approval for UAE Retail Payment Services Licence
XTransfer announced on 3 September 2026 that it has received in-principle approval from the Central Bank of the UAE for a Retail Payment Services Licence, marking a new regulatory stage in the company’s Middle East expansion.
The approval is not yet a final licence. XTransfer said it must first complete the regulator’s pre-issuance conditions. Once those conditions are satisfied and the licence is formally issued, the company expects to be able to serve mainland UAE clients and expand its regulated B2B payment services in the country.
XTransfer positions the UAE as a key market in its Middle East and Africa strategy, particularly for businesses engaged in international trade and cross-border payments between China, the Middle East, Africa and other emerging markets.
The company said its total payment volume exceeded US$60 billion in 2025 and that, as of 31 March 2026, its network reached more than 200 countries and regions through financial-institution partnerships. Those figures are company-reported.
For compliance teams, the significant point is the regulatory status: the announcement concerns in-principle approval rather than full authorisation, so the company’s final permitted activities in the UAE remain subject to completion of the Central Bank’s pre-issuance requirements.
