- EazyPay launches crypto payments via “Binance Pay”
Eazy Financial Services to accept cryptocurrency payments using “Binance Pay” over “EazyPay’s” 5000+ Point-of-Sale (POS) Terminals & Online Payment gateway throughout the Kingdom of Bahrain, the leading Bahraini financial institute “EazyPay,” which specializes in Point-of-Sale (POS) & Online Payment Gateway Acquiring services, recently announced its strategic partnership with Binance, the world’s leading blockchain & cryptocurrency platform.
- Digital Banking service Wio starts operations with focus on SMEs
Wio Bank, a digital lender with headquarters in Abu Dhabi, began operating in the UAE. In its first year, Wio Bank intends to concentrate on small and medium-sized businesses. The bank’s chief executive, Jayesh Patel, told The National on the occasion of its debut in Abu Dhabi that it will expand its operations to serve retail clients next year in order to become a full-service digital bank. We spend a lot of effort trying to ensure that our customers have a positive experience, according to Mr. Patel.
- SAMA updates regulatory Sandbox’s framework to back up more FinTech startups
In accordance with its plan for economic transformation, Saudi Arabia’s banking authority is changing the rules governing its “sandbox” regulatory environment. The Saudi Central Bank, also known as SAMA, said in a statement on its website that the move is in line with objectives to advance the economy of the kingdom, diversify its revenue streams, enable financial institutions to support the expansion of the private sector, and permit new businesses to offer a variety of financial services.
- Dubai property investment startup Stake raises $8m in recent funding round
Dubai-based real estate FinTech start-up Stake has raised $8 million in an early stage funding round to drive its growth as regional investors flock to the stability of property investments amid volatile global markets. The pre-series A funding round was backed by Dubai-based venture capital firm Middle East Venture Partners (MEVP) and BY Ventures, along with returning investors Vivium Holding and Combined Growth Real Estate, said Stake.
- FinTech firm Wise fined $360.000 by Abu Dhabi regulator
The local unit of fintech company Wise was fined $360,000 by the regulator of Abu Dhabi’s free zone financial center on Tuesday for breaking anti-money laundering (AML) regulations. In a statement, the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market stated that it had “determined that Wise did not establish and maintain suitable AML systems and controls to ensure complete compliance with its AML responsibilities.”
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