- The Singapore-based fintech giant signed an MoU with the Abu Dhabi Investment Office to boost innovation, financial inclusion, and SME empowerment in the region.
- The collaboration aims to strengthen the UAE’s position as a global fintech hub, supporting sustainable, digitally driven economic growth.
Ant International has announced a strategic cooperation with the Abu Dhabi Investment Office (ADIO) and obtained important regulatory permits aimed at accelerating the growth of digital and financial technologies in the United Arab Emirates (UAE), marking a significant step in the company's expansion into the country.
The leading fintech company in Singapore and ADIO have inked a Memorandum of Understanding (MoU) to promote innovation in the expanding fintech sector in Abu Dhabi.
Through the provision of cutting-edge digital tools and the encouragement of financial inclusion, this partnership will utilize Ant International's expertise in digital payments and technology to empower small and medium-sized businesses (SMEs) in the region. It is also anticipated that the action will improve the UAE's financial ties to global markets.
In addition, Ant International has been granted In-Principle Approval (IPA) by the Central Bank of the United Arab Emirates for two important licenses: Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF).
Before completing licensing, which will allow the business to implement cutting-edge solutions like merchant acquisition, payment aggregation, e-wallet issuing, and local and international money transfers, these approvals are essential.
The company wants to promote the central bank's goal of a sustainable, digitally driven economy while also advancing the UAE's "We the UAE 2031" digitization agenda.
Peng Yang, CEO of Ant International, stated that the partnership and regulatory support are essential to empowering local businesses and promoting inclusive digital growth in the region.
H.E. Badr Al-Olama, Director General of ADIO, emphasized Abu Dhabi's progressive regulation and digital infrastructure as key components for becoming a global fintech hub.
“This strategic collaborative relationship is foundational to our mission to empower local businesses, especially small and medium-sized enterprises (SMEs), and connect them to new global growth opportunities,” he added.
With these advancements, Ant International will be able to significantly influence how the digital and fintech ecosystem in the UAE develops in the future, fostering creativity, adaptability, and global connectedness.
Edited by Harshajit Sarmah
