Post by : Badri Ariffin

Lianlian DigiTech Co., Ltd., a top player in AI-powered digital payment solutions, has successfully acquired a payment services licence from the Dubai Financial Services Authority (DFSA). This licence authorizes the firm to operate from the Dubai International Financial Centre (DIFC), a premier financial hub in the Middle East, Africa, and South Asia (MEASA).

This approval signifies a pivotal moment in Lianlian’s strategy for global expansion, enhancing its footprint in the Middle East. By securing this licence, the company transitions from market entry to establishing a fully licensed regional headquarters in Dubai.

Operating from DIFC allows Lianlian to elevate its cross-border payment and settlement services throughout the Middle East and broader international arenas. The firm has committed to collaborating with local banking partners to deliver swifter, more localized, and efficient payment solutions tailored to businesses.

Additionally, Lianlian is dedicated to advancing its transaction and settlement systems to ensure that cross-border financial services are stable, secure, and trustworthy. These initiatives aim to help businesses navigate international payments seamlessly while expanding into and out of the Middle East.

Emily Zhou, General Manager, UAE, at Lianlian, highlighted the crucial role the Middle East plays in facilitating trade and finance among Asia, Europe, and Africa. She emphasized that securing the DFSA licence is a significant milestone in the company’s global localization endeavor.

Zhou further indicated that Lianlian aims to forge robust collaborations with local financial institutions and ecosystem partners to reinforce the regional payment network and accommodate the growing demands for global payment solutions.

Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, expressed his enthusiasm for Lianlian’s growth in the region. He noted that the company’s expertise in cross-border transactions would greatly benefit businesses reliant on efficient and compliant payment frameworks.

He added that Lianlian’s presence would enhance DIFC’s standing as a significant hub for Chinese enterprises and underscores its burgeoning reputation as one of the world’s leading fintech capitals.

Recently, Lianlian announced plans to transition into an AI-native global financial infrastructure company, aligning closely with DIFC’s vision of becoming the world’s first AI-native financial centre.

Currently, the company holds 68 payment licences across major global markets, operating its payment network in over 100 countries and regions worldwide.

With its new operations in DIFC, Lianlian aims to further integrate China, the Middle East, and global markets through a secure and compliant cross-border payment framework.

#world news #Global News #Dubai News #UAE News