Airwallex, a leading global financial platform for modern businesses, has announced a series of regulatory, infrastructure, and partner milestones to accelerate its expansion in the Middle East.
The developments highlight the company’s strategic push to capitalise on the region’s significant growth opportunities while continuing its expansion across APAC, EMEA, and the Americas, according to FF News.
The launch of these new operations in the Middle East comes in response to rising demand for advanced financial services in the region, where businesses are increasingly seeking seamless cross-border payment solutions and digital banking infrastructure.
Airwallex aims to support both global merchants and local small and medium-sized businesses (SMBs) with its cutting-edge financial products.
The firm provides a comprehensive financial platform for modern businesses, offering solutions for multi-currency accounts, global transfers, payment acceptance, corporate cards, and now BNPL capabilities. With over 150,000 global customers, the company has grown through a combination of robust infrastructure, regulatory compliance, and strategic partnerships.
The company’s new Middle East product offerings include multi-currency accounts, global transfers, payment acceptance (PA), corporate cards, and BNPL capabilities.
In the UAE, Airwallex has secured In-Principle Approval for Stored Value Facilities and Retail Payment Services (Category II) Licences from the Central Bank, enabling a Register of Stored Value Facilities (SVF) wallet with limits suitable for all businesses, including SMBs.
Airwallex is also operationalising its UAE entity, expanding local staff and offices as part of go-live preparations. In Saudi Arabia, the company has officially established a new entity following incorporation by the Ministry of Investment. These initiatives support both countries’ digital economy goals, including the UAE’s 2031 Vision and Saudi Vision 2030.
Additionally, Airwallex has partnered with Tabby, the region’s leading ‘buy now, pay later’ (BNPL) provider, to enable BNPL payment options at checkout in both the UAE and KSA. This will allow global merchants to drive higher conversion rates, larger basket sizes, and stronger engagement with local shoppers.
The company recently secured $300m in Series F funding at a $6.2bn valuation and announced a global partnership with Arsenal Football Club, complementing its existing relationship with McLaren Racing. Airwallex was also present at the inaugural Money 2020 Middle East in Riyadh, further demonstrating its commitment to regional growth.
Jack Zhang, Co-Founder and CEO of Airwallex, said, “We are building the future of global banking and finance, and when you consider the UAE’s 2031 Vision and Saudi Vision 2030, nowhere is more forward-looking than the Middle East. This is why it is so exciting to have secured our In-Principle Approval for payments licence in the UAE, and established our first entity in KSA.”
“Market entry in the region will not only empower our 150,000 existing global customer base, but it will also create huge opportunities for local businesses – big and small. To be fully global we also need to be hyper local, and we are delighted to be working on how to bring Airwallex’s cutting-edge solutions to this critical, energetic, and fast-growing region.”
Jeanette Chan, Chief Legal, Compliance and Risk Officer at Airwallex, added, “As an infrastructure-first company, we have spent ten years diligently working with regulators and building our infrastructure. We now have over 60 licences and permits globally, and these new steps in the UAE and Saudi Arabia are an exciting part of our broader strategy to provide our customers with the right technology and opportunities to be ‘default global’ across our entire product suite”.
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