Paysend Secures UAE Central Bank Approval to Launch Middle East Payments Hub

Paysend has secured In-Principle Approval from the Central Bank of the UAE to establish a regulated presence in the Emirates, marking a significant expansion into the Middle Eastern corridor. For fintech professionals, this move signals the UAE's growing gravity as a global hub for cross-border infrastructure, allowing Paysend to integrate its 25-billion-endpoint network directly into the region’s digital economy.

What was announced

The Central Bank of the UAE (CBUAE) has granted Paysend In-Principle Approval (IPA) to operate under two specific licensing categories: Stored Value Facility and Category IV Digital Exchange Business. This regulatory milestone, announced on 14 September 2026, positions the company to establish the UAE as its primary operational hub for the Middle East. While the IPA is a prerequisite, Paysend will not commence regulated activities until the CBUAE grants the final operating licences.

Once fully licensed, the company intends to provide a single, regulated access point for both businesses and consumers in the UAE. This will connect them to Paysend’s proprietary global payments infrastructure, which currently encompasses more than 25 billion endpoints across 170 countries. The network facilitates money movement across digital wallets, cards, and bank accounts. The company is currently working closely with the CBUAE to satisfy all regulatory and operational requirements associated with the IPA.

The expansion aligns with the UAE government’s Financial Inclusion Strategy, focusing on a technology-driven financial ecosystem with high regulatory standards. Paysend’s internal infrastructure includes end-to-end capabilities in FX processing, treasury, risk management, and network operations. By securing these specific license categories, the firm aims to bridge the gap between local financial activities and its extensive international reach, supporting the UAE's ambition to become a global centre for financial innovation.

"The UAE has built a future-focused digital finance ecosystem, underpinned by a robust regulatory framework, and a clear commitment to financial inclusion. At Paysend, we are grateful for the constructive engagement, guidance, and support provided by the CBUAE throughout the licensing process. We look forward to making a valuable contribution towards positioning the UAE as a global hub for financial sector innovation. Connecting people and businesses in the UAE to a regulated, secure, global digital payments network they can depend on,"

Dr Junaid Ward, Regional CEO - UAE & GCC of Paysend.

The companies involved

Paysend is a UK-headquartered technology company that specializes in building and operating global payments infrastructure. Founded in 2017, the firm has rapidly scaled its operations to serve more than 12 million customers worldwide. It is currently regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The company’s core offering is a digital payment network that spans over 170 countries, designed to facilitate seamless money movement through a portfolio of enterprise and consumer products.

Led by Executive Chairman and Co-Founder Abdul Abdulkerimov, Paysend distinguishes itself by building its own infrastructure rather than relying solely on third-party intermediaries. This "full-stack" approach to payments includes managing its own FX processing and treasury functions. The company has established itself as a major player in the cross-border transfer market, focusing on high-volume corridors and digital-first delivery methods. With the move into the UAE, Paysend is transitioning from a European-centric firm into a truly global infrastructure provider, leveraging the Emirates' strategic position between Eastern and Western financial markets to anchor its Middle Eastern operations.

What FF News has reported before

FF News has closely tracked Paysend’s aggressive expansion and partnership strategy over the last year. In late 2025, the company made significant strides in the Western Hemisphere, as seen in Paysend Partners with JetBlue to Reward the Dominican Diaspora in the U.S. for Sending Money Home. This followed a major technical milestone reported in Paysend Launches Instant Global Transfers, which highlighted the firm's push for real-time settlement. The company’s relationship with major card schemes has also been a focal point, particularly when Paysend Expands Visa Partnership with New Program to Enhance Cross-Border Payments was announced in October 2025. More recently, the firm’s influence was noted in the broader fintech landscape when Bir Named Among World’s Top Fintechs by CNBC and Statista in Historic First for Azerbaijan referenced the competitive environment in which Paysend operates.

What this means

The UAE’s decision to grant this IPA to Paysend underscores the intensifying competition among global financial hubs to attract infrastructure-heavy fintechs. By securing both Stored Value and Digital Exchange categories, Paysend is positioning itself to bypass traditional banking intermediaries, a move that puts pressure on legacy remittance providers in the Gulf region. The industry is currently grappling with the balance between rapid digital adoption and stringent AML/KYC requirements; Paysend’s entry into the UAE’s regulated space suggests that the CBUAE is confident in the firm’s risk frameworks. This development raises questions for competitors about the long-term viability of third-party-dependent models versus vertically integrated payment networks.