Altery, a leading fintech firm headquartered in the United Kingdom, has announced that its Middle East and North Africa (MENA) subsidiary, Altery MENA, has officially received regulatory authorization from the Dubai Financial Services Authority (DFSA).
This license marks a major milestone in Altery’s long-term vision to establish compliant financial hubs across high-growth regions. The UAE, known for its rapid adoption of digital payment solutions and progressive regulatory environment, has been highlighted by Altery as a core market for its regional operations.
With this DFSA license, Altery MENA is now authorized to manage the collection and expenditure of funds in local currencies, including AED and other GCC region currencies. Notably, the current approval excludes any services related to cryptocurrency or cross-border money transfers.
Despite these limitations, the company described the license as a “critical first step” in building a strong foundation for regional growth. This initial approval allows Altery MENA to begin onboarding users in the UAE and developing robust compliance infrastructure tailored to local requirements.
Altery confirmed that it is now working closely with the DFSA to roll out the necessary operational, technical, and compliance systems ahead of its official market launch.
The firm emphasized that this regulatory approval is a “strategic milestone” in its roadmap, reinforcing its commitment to responsible expansion and adherence to international financial standards.
—————————————————————————————————
About Innovation Streets:
Welcome to InnovationStreets.com! Get the latest insights from the finance and technology industries. Discover industry updates on fintech innovations, regulatory developments, industry insights, events, and collaborations between banks, insurers, and fintechs. A platform for C-level executives to submit thought leadership content for their peers. Subscribe for updates!
