The United Arab Emirates (UAE) has cemented its position as one of the leading markets for financial technology (fintech) over the past few years.
Fresh regulatory approvals, international partnerships and innovative funding solutions are amongst the elements which are powering the boom.
Read on as we look at some of the latest fintech developments in the UAE.
Checkout.com Edges Closer to Expanding UAE Payments Offering
Checkout.com recently secured an approval in principle from the Central Bank of the UAE (CBUAE) for a Stored Value Facilities (SVF) license covering card issuing.
When the company receives full authorisation, they plan to combine card issuing with existing businesses in the UAE, allowing merchants to handle both services under one umbrella.
They believe businesses that use both products will be able to fund cards directly from payment balances they have already received, reducing the stress of operations while improving cash flow.This expansion of payment offerings will serve emerging markets such as the UAE’s newly regulated gaming industry.
The Wynn Al Marjan resort in Ras Al Khaimah will rely heavily on digital payment services to serve customers and deliver a top-notch experience.
The online operators featured in the Haztayeb Ras Al Khaimah casino guide already utilise the services of reputable fintech companies.
The latest fintech developments will continue to influence a sector which is expected to become one of the most lucrative in the Middle East.
UAE & Indonesia Strengthen Cross-border Payments Partnership
The CBUAE and Indonesia have agreed to strengthen their cooperation on cross-border payments and digital financial innovation.
They plan to link both countries’ payment systems while expanding the use of Local Currency Transactions (LCT), allowing businesses to settle transactions without any third-party currency.
Officials from both sides believe this approach will speed up international transfers while being more transparent and cost-effective for companies operating between both nations.
The economic partnership is also a celebration of 50 years of diplomatic relations between the two countries. They plan to exchange fintech expertise and collaborate on financial solutions that boost trade and investment.
CBUAE Governor Khaled Mohamed Balama said the partnership is in line with the vision of reiterating the country as a major financial centre.
It also shows how central banks are taking a more proactive role in modernising international payments, reducing friction in cross-border business and fostering adoption of digital services.
Fincobox Targets SME Funding Gap with Flexible Liquidity Solutions
Dubai-based Fincobox is expanding its suite of non-dilutive financing solutions that will help small and medium-sized enterprises (SME) overcome cash flow shortages without sacrificing equity.
Businesses will no longer have to survive on traditional bank lending. They can access funds through invoice discounting, revenue-based liquidity, purchase order financing and short-term arrangements.
With invoice discounting, companies can unlock 90 percent of their unpaid invoices in a day instead of waiting several months for customer payments.
They link repayments to monthly income, making the model ideal for fast-growing e-Commerce businesses and subscription-based companies.
Fincobox is eyeing sectors such as manufacturing, hospitality, direct-to-consumer brands and trading businesses, where payment cycle hold-up often affects working capital.
The platform is looking to fill a crucial gap traditional lenders cannot address because of their collateral requirements and longer approval processes.
Bybit Earns Global Recognition as the Fintech Sector Matures
Cryptocurrency exchange Bybit was named NBC’s World’s Top Fintech Companies 2026 in the Digital Assets category, joining a select list of fintech firms reshaping the future of the industry.
Compiled in partnership with research giant Statista, the rankings assessed around 3,500 companies across eight fintech sectors using business performance and specific indicators.
According to McKinsey, the global sector recorded approximately $650 billion in revenue in 2025 thanks to advances in artificial intelligence, digital assets, and more mature regulatory frameworks.
Bybit caters to over 80 million users around the world and expanded from crypto trading into payments, tokenised investments, artificial intelligence (AI) financial tools and institutional infrastructure.
They secured a Virtual Asset Platform Operator licence issued by the UAE Securities and Commodities Authority plus European authorisation under the European Union’s Markets in Crypto-Assets framework.
