XTransfer, a global B2B cross-border trade payment platform, has secured in-principle approval for a Retail Payment Services Licence from the Central Bank of the UAE (CBUAE), marking a significant milestone in the company's global regulatory expansion and its growing presence in the Middle East.

In-principle approval means the company has cleared the central bank's initial regulatory review but must still satisfy pre-issuance conditions before the licence is formally granted. Once those conditions are completed, the licence will enable XTransfer to serve mainland UAE clients and further extend its regulated B2B payment services within the country. Under the CBUAE's payment services framework, such licences authorize licensed providers to offer payment services—including payment account operations and domestic and cross-border fund transfers—under the central bank's supervision. Through this licence, XTransfer intends to support businesses engaged in international trade with compliant, secure, and efficient payment solutions tailored to cross-border transactions.

The UAE is a key market in XTransfer's Middle East and Africa strategy. As a major regional trade and re-export hub—the UAE's non-oil foreign trade has grown steadily in recent years—the country plays an important role in connecting Chinese trade with Africa and wider emerging markets. For SMEs, which often face high costs, slow settlement, and complex compliance requirements when moving money across borders, locally regulated payment providers can offer an alternative to traditional correspondent banking channels. XTransfer's presence in the country is expected to strengthen its ability to support trade flows between China, the Middle East, and Africa, offering businesses more accessible and reliable cross-border payment services.

"Receiving conditional approval from the Central Bank of the UAE is a key milestone for XTransfer's global regulatory expansion," said Bill Deng, Founder and CEO of XTransfer. "The UAE is one of the world's most important trade hubs and an essential gateway between Asia, the Middle East and Africa. This approval reinforces our confidence in the UAE market and its long-term growth potential across the region."

The UAE licence follows successful licensing across major trade hubs in Asia and Europe, representing another step in XTransfer's international regulatory roadmap and reflecting the company's expanding footprint in the Middle East. The approval also comes as the UAE continues to attract cross-border payment firms, with the CBUAE licensing framework positioning the country as a regional base for regulated payment activity. XTransfer said it will continue to invest in regulated markets and strengthen its payment infrastructure to support SMEs and trading businesses participating in cross-border commerce.