In a strategic move to expand its regional presence, Altery MENA, the Middle East arm of UK-based fintech Altery, has officially received regulatory approval from the Dubai Financial Services Authority (DFSA). This license marks a major milestone in the company’s goal to build a fully compliant financial footprint across the MENA region.
A Strategic Entry into the UAE
The newly granted license allows Altery MENA to handle local currency transactions within the United Arab Emirates. Specifically, it can facilitate the collection and expenditure of funds in AED and other GCC currencies. This is particularly important in a region where digital payment adoption is soaring. Along with that, regulatory clarity is becoming a competitive advantage.
- âś… Authorised to manage funds in local currencies (AED/GCC)
- âś… Focus on regulated, non-crypto financial services
- âś… Positioned for further MENA expansion
The approval does not cover services related to cryptocurrencies or cross-border remittances, making it clear that Altery’s initial focus is on building a solid, regulated base in local markets.
Why the UAE?
The UAE continues to lead the region in digital payment adoption and regulatory innovation, making it an ideal launchpad for fintechs like Altery.
- âś… Over 90% smartphone penetration
- âś… Supportive fintech regulations
- âś… Strong demand for digital financial tools
By entering this ecosystem with DFSA’s backing, Altery is signaling a long-term commitment to the market, and to compliance-first financial innovation.
Laying the Foundation for Growth
According to Altery, this DFSA license is more than just a green light for operations. It represents a “critical first step” in building a full-service fintech platform tailored to the MENA region. The company is now working closely with regulators to finalize:
- Operational readiness
- Technical infrastructure
- Robust compliance frameworks
This groundwork is essential for the company’s user onboarding, customer support, and risk management, all of which are vital for long-term success in regulated markets.
A Step Toward Regional Leadership
Altery views this development as a “strategic milestone” in its broader roadmap. The company aims to replicate the success of its UK operations while adapting to regional nuances in compliance and financial behavior.
“We’re committed to aligning with international standards while addressing the specific needs of MENA markets,” a spokesperson from Altery shared.
The move underscores a growing trend in fintech, scaling through regulation, not around it. By prioritizing transparency and regulatory partnerships, Altery positions itself as a credible player in the region’s evolving financial landscape.
Final Thoughts
With this DFSA license, Altery MENA is officially on the map. It’s now equipped to launch in one of the most promising fintech ecosystems globally. As it continues building its infrastructure and deepening regional ties, Altery is taking decisive steps toward becoming a trusted financial partner in the UAE and beyond.