Remitly secures UAE license to expand remittance services in a $50B market

Remitly Global, Inc. has obtained a Stored Value Facilities license from the Central Bank of the UAE, allowing it to expand its remittance services in one of the world's largest markets. This license enables Remitly to introduce new financial products tailored for UAE customers, supporting the country's fintech growth ambitions. The UAE remittance market handles around $50 billion annually, and Remitly already serves customers across 175 countries with fast, reliable transfers. This move strengthens Remitly's global presence and aligns with the UAE's vision to boost its digital economy by 2031.