XTransfer Secures In-Principle Approval for Retail Payment Services Licence from UAE Central Bank

XTransfer, a global B2B cross-border trade payment platform, announced it has secured in-principle approval for a Retail Payment Services Licence from the Central Bank of the UAE. The company stated that upon fulfilling pre-issuance conditions, the licence will allow it to serve clients in mainland UAE and expand its regulated payment services. The firm views the UAE as a strategic hub for connecting trade between China, the Middle East, and Africa. Bill Deng, Founder and CEO of XTransfer, described the UAE as one of the world's most important trade hubs and an essential gateway between Asia, the Middle East, and Africa, noting that the approval reinforces the company's confidence in the local market. Founded in 2017, XTransfer reports that it processed over US$60 billion in total payment volume in 2025 and serves a global customer base of more than 1,000,000 registered small and medium-sized enterprises.