Airwallex has secured in-principle approval from the Central Bank of the UAE for Stored Value Facilities and Retail Payment Services (Category II) licenses. This includes a digital wallet solution designed to support businesses of all sizes, particularly SMEs, enabling them to access multi-currency accounts, global transfers, payment acceptance, and corporate cards.
The company is also expanding its UAE office and workforce to prepare for launch.
In Saudi Arabia, Airwallex has successfully established a new entity with approval from the Ministry of Investment, aligning with the country’s Vision 2030 goals and supporting its growing digital economy.
To further strengthen its presence in the Gulf, Airwallex has partnered with Tabby, the region’s leading Buy Now, Pay Later (BNPL) provider. This partnership will allow merchants in the UAE and Saudi Arabia to integrate BNPL options at checkout—helping them deliver localized payment experiences, increase conversions, boost basket sizes, and enhance customer engagement.
Leadership Insights
Jack Zhang, Co-Founder and CEO of Airwallex, commented:
“We are building the future of global banking and finance. With the UAE’s 2031 Vision and Saudi Vision 2030, the Middle East is one of the most forward-looking regions in the world. Securing approval in the UAE and establishing our entity in Saudi Arabia allows us to empower our 150,000 global customers while unlocking new opportunities for local businesses of all sizes.”
Jeanette Chan, Chief Legal, Compliance and Risk Officer at Airwallex, added:
“As an infrastructure-first company, we’ve spent a decade collaborating with regulators and building robust financial systems. With over 60 global licences and permits, our entry into the UAE and Saudi Arabia is an important step in helping businesses become ‘default global’ through our complete product suite.”
Global Expansion
Airwallex’s Middle East push comes as part of its broader global scaling strategy. The company recently completed a US$300 million Series F funding round, bringing its valuation to US$6.2 billion. It has also expanded its brand presence with high-profile partnerships, including Arsenal Football Club and McLaren Racing.
With regulatory approval, new entities, and strong regional collaborations, Airwallex is positioning itself as a leading global fintech player in the Middle East’s rapidly growing digital economy.
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