September 25, 2025 — Global fintech leader Airwallex is accelerating its expansion into the Middle East with a series of significant regulatory approvals, new infrastructure investments, and strategic partnerships that signal the company's commitment to one of the world's fastest-growing financial markets.
A Triple Win for Middle East Expansion
The announcement marks three major milestones for Airwallex as it positions itself to serve businesses across the Gulf Cooperation Council (GCC) region:
Regulatory Breakthrough in the UAE
Airwallex has secured In-Principle Approval for Stored Value Facilities and Retail Payment Services (Category II) Licences from the Central Bank of the UAE. This approval includes a Register of Stored Value Facilities (SVF) wallet designed to support businesses of all sizes, from SMBs to large enterprises.
With this licence, Airwallex will be able to offer UAE customers a comprehensive suite of financial services, including multi-currency accounts, global transfers, payment acceptance capabilities, and corporate cards. The company is now moving quickly to operationalise its UAE entity, with plans to expand its local office presence and team as part of go-live preparations.
Establishing Roots in Saudi Arabia
Complementing its UAE moves, Airwallex has officially established a new entity in the Kingdom of Saudi Arabia following incorporation approval from the Ministry of Investment of Saudi Arabia. This strategic step underscores the company's alignment with Saudi Vision 2030 and its commitment to contributing to the Kingdom's rapidly evolving digital economy.
The company's presence at the inaugural Money 2020 Middle East conference in Riyadh earlier this month further demonstrated its engagement with the region's financial services ecosystem.
Powering BNPL with Tabby Partnership
Beyond regulatory milestones, Airwallex is enhancing its merchant capabilities through a partnership with Tabby, the Middle East's leading buy now, pay later (BNPL) provider. This collaboration will enable BNPL payment options at checkout in both the UAE and Saudi Arabia, helping global merchants drive higher conversion rates, increase basket sizes, and strengthen engagement with local consumers.
A Vision for Global-Local Financial Services
Jack Zhang, Co-Founder and CEO of Airwallex, emphasized the strategic importance of the Middle East expansion: "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."
Zhang highlighted the dual benefit of the expansion: "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."
Infrastructure-First Approach Pays Off
Jeanette Chan, Chief Legal, Compliance and Risk Officer at Airwallex, noted that these achievements reflect years of dedicated work: "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."
Building on Momentum
The Middle East expansion comes at a time of significant growth for Airwallex. The company recently closed a $300 million Series F funding round at a $6.2 billion valuation, demonstrating strong investor confidence in its global expansion strategy. This move follows the company's recent expansion into Latin America, with operations in Brazil and Mexico, as part of its broader push across APAC, EMEA, and the Americas regions. Additionally, Airwallex has announced high-profile partnerships with Arsenal Football Club and McLaren Racing's Formula One team, raising its brand profile on the global stage.
What This Means for Businesses
For Airwallex's existing customer base of 150,000 businesses worldwide, these developments open up new opportunities to seamlessly expand into or transact with the Middle East market. Local businesses in the UAE and Saudi Arabia will gain access to Airwallex's global financial platform, enabling them to operate across borders with greater ease and efficiency.
As the Middle East continues to position itself as a global hub for innovation and commerce, Airwallex's strategic investments in regulatory compliance, local infrastructure, and regional partnerships demonstrate its commitment to becoming a key enabler of the region's financial services transformation.