Payments FinTech Capitalixe Opens in Dubai
Weekly news up to Wednesday, 16th of October 2025.
👀 NEWS HIGHLIGHT
Lissele Pratt, Co-Founder of Capitalixe, emphasized that Capitalixe’s presence in Dubai allows the company to build trust through face-to-face interactions, accelerating client onboarding and enabling the delivery of reliable multi-currency banking solutions for businesses in these rapidly growing sectors.
NOW, ON TO THE SUMMARY OF LAST WEEK’S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ NBB adopts Kinexys by J.P. Morgan solution to pioneer programmable payments in the region. NBB will leverage Kinexys Digital Payments (KDP) to deliver real-time programmable payment capabilities that support more complex, conditional, and automated financial flows.
⭐️ Crypto.com granted in-principle approval to settle Dubai government payments in stablecoins. It brings the exchange a step closer to processing stablecoin and dirham payments for Dubai government services. The approval enables the exchange to expand into regulated digital payments in the region upon final authorization.
⭐️ Wise secures final approval from the Central Bank for stored value facilities and retail payment services licenses in the UAE. Wise has received licence approvals from the Central Bank of the UAE for Stored Value Facilities and Retail Payment Services, marking a key milestone in its plans to expand services to personal and business customers.
⭐️ FABMISR taps Noon Payments to advance FinTech evolution. By combining FABMISR’s banking expertise and technological infrastructure with Noon Payments’ dynamic FinTech platform, the initiative will streamline digital transactions, improve security, and simplify payment processing for merchants across Egypt’s fast-growing online retail sector.
BAHRAIN 🇧🇭
STC Pay intends to expand regionally and double its growth. In an exclusive interview, Metin Zavrak noted that this expansion marks a bigger push from the whole group. He affirmed that some other discussions are going on, as the team is actively working to scale business in neighboring countries and North Africa later on.
SAUDI ARABIA 🇸🇦
Paymentology scales card programs in Saudi Arabia. By providing modular, configurable platforms, Paymentology enables clients to create unique propositions, giving cardholders dynamic control over spend limits, timeframes, and other personalized features.
UNITED ARAB EMIRATES 🇦🇪
SCA grants Bybit a full UAE license, and expansion is planned in Abu Dhabi and Dubai. The license allows Bybit to operate regulated virtual asset trading, brokerage, custody, and fiat conversion services in the country. The exchange aims to employ more than 500 staff across Abu Dhabi and Dubai.
Tabby launches Saudi AI factory using NVIDIA HGX systems. The move aims to accelerate its AI roadmap while retaining data sovereignty and meeting regulatory constraints. The company said it will initially use the systems to power AI tools across customer support, fraud detection, risk scoring, and shopping personalisation.
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