Ant International, a global provider of digital payment, digitization and finance technology, today announced two milestones marking a major step forward to expand to the UN Arab Emirates (UAE).
He has signed a Memorandum of Defense (MOU) with the Abu Dhabi Investment Office (ADIO) and received approval from the Central Bank (SVF) and retail services and payment services and card services (RPSCS) from the Central Bank of the UAE (CBUAE).
Ant International’s Memorandum of Agreement with the ABU DHABI Investment Office (ADIO) reinforces its commitment to the UAE, utilizing its technological know -how to support the development of ABU Dhabi’s economic technology, reinforcing local businesses with advanced digital tools and promoting financial integration and connectivity between in the world.
Badr Al-Olama, Adio’s General Manager, said:
“With progressive arrangement, strong digital infrastructure and strategic location, Abu Dhabi is a key jurisdiction for FINTech that operate worldwide and seeking to work together for longevity. Abu Dhabi actively shapes digital innovation for the future.”
“Support from Adio has helped us to establish our presence in Abu Dhabi. This strategic collaborative relationship is fundamental to our mission to strengthen local businesses, especially the media and link them to new worldwide development opportunities,” said Antgian Yang. “We are excited to contribute to the growing digital economy of the UAE and look forward to a future of common success.”
CBUAE SVF and RPSCS authorization is a prerequisite for obtaining the full licenses required to introduce innovative Ant International FinTech solutions in the country.
Once the final licenses are granted, Ant International will be placed to provide a complete order of payments and other relevant UAE solutions. These include the acquisition of a trader, the assembly of payments, the issuance of electronic wallets and the domestic and cross -border transfers, which will help enhance the country’s digital ecosystem according to the Nation’s digital and fintech strategy.
“Getting this approval within the Central Bank of the UAE is a testimony of our productive cooperation and common vision for a digital, comprehensive economy,” commented Mr Yang. “We are grateful for the guidance and support of CBUAE’s FinTech office, as we work to bring Fintech solutions powered by AI that cover traders, wallet technology and digitization tools to help escalate the development of UAE.”