Airwallex Puts $43M Into UAE Payments Licence Push

Airwallex is investing $43 million in the UAE over five years, according to a statement carried by PRLog. The money is funding new products and senior roles in Dubai. The first phase of that plan is already underway.

Airwallex has enlarged its Dubai office and added several senior staff this year. The new hires draw on local and international talent based in the Emirates, and they are arriving before the company has full regulatory approval. The Central Bank of the UAE has granted Airwallex In-Principle Approval covering Stored Value Facilities and Retail Payment Services (Category II). Airwallex is working toward final approval and wants to launch services in 2026. These appointments are the first visible step in the spending plan, giving Airwallex local capacity before the licence moves from approval in principle to full authorisation.

The UAE spending is part of a wider push across the UK, Europe, the Middle East and Africa. Airwallex describes the UAE as a hub for regional growth. The company has had a presence there since 2024, when it committed to securing the licences needed to bring its products to the country. That timeline is now coming into focus.

Or Liban, managing director for the Middle East, Benelux and Nordics at Airwallex, said UAE businesses face a gap in multi-currency operations. They are scaling into more markets and handling more currencies than ever, he said, but much of the financial infrastructure around them was built for a single currency. Liban said the investment is intended to close that gap.

“Many ambitious regional companies trade internationally from day one,” Liban said.

That changes what they need from a payments provider. It is not enough to process a domestic card payment. A business may need to collect in dollars, pay suppliers in euros and hold cash in dirhams, all in one place. This pattern is visible across the UAE, where a fast-growing group of new businesses has customers and suppliers in several countries at launch.

The UAE ecommerce market is projected to reach $21 billion by 2031. More cross-border activity means more demand for payment services that can move money between currencies without friction. Airwallex's multi-currency focus matches that trajectory. A full licence would also let Airwallex offer those services from the UAE rather than through another jurisdiction.

Stored Value Facilities and Retail Payment Services are not just names on a licence. A full authorisation would let Airwallex hold customer funds and process retail payments in the UAE, which is the regulatory base for the regional hub it wants to build. That is why the In-Principle Approval matters.

The Dubai build-out lines up with a larger institutional push at Airwallex. Pranav Sood has joined as chief financial officer, and he is scheduled to speak at Abu Dhabi Finance Week in December. Sood is expected to discuss regional investment and the modern finance function. His appearance gives Airwallex a public platform to explain its UAE plans to the same executives who will watch the licence process.