Altery MENA Limited, a subsidiary of the UK-based fintech Altery Limited, has obtained a regulatory license from the Dubai Financial Services Authority (DFSA). This development was announced in a press release, highlighting Altery’s commitment to expanding its financial services in the MENA region.

The acquisition of this license aligns with Altery’s global strategy to establish regional financial hubs, particularly focusing on the UAE. The region is noted for its high adoption of digital payments and a progressive regulatory environment, making it an attractive market for fintech companies.

With the new license, Altery MENA is authorized to allow customers to collect and spend funds in local currency, specifically the UAE Dirham (AED), as well as in other GCC currencies. However, it is important to note that the license does not cover cryptocurrency or international money transmission. Despite this limitation, the license provides regulatory legitimacy, facilitating user onboarding in a key market and establishing a compliance infrastructure for potential future expansion.

In addition, Altery MENA is collaborating closely with the DFSA to operationalize the license. This partnership aims to ensure that all compliance, operational, and technical components are properly aligned for a seamless market rollout.