UAE - Mubasher: Rapyd, a fintech-as-a-service company, has inaugurated a new office in Dubai to become the first Israeli company to be regulated in the UAE.
Rapyd has been registered at the Dubai International Centre (DIFC) and has been granted an in-principle approval (IPA) from the Dubai Financial Services Authority (DFSA), according to a press release on Wednesday.
The fintech company would become fully authorised to conduct financial services upon fulfilling the DFSA’s in-principle requirements to offer local merchants innovative solutions to send, receive, and facilitate payments.
The CEO of Rapyd, Arik Shiltman, said: "By establishing Dubai as a strategic development hub, we are showcasing the boundless opportunities for Rapyd as we continue to lead and innovate the industry across the UAE and beyond."
Meanwhile, the CEO of DIFC Authority, Arif Amiri, commented: "Dubai and DIFC continue to cement their position as one of the world’s top hubs for technology and innovation firms by offering the most comprehensive proposition that helps start-ups, global players, and unicorns access the fast-growing markets of the MEASA region."
