Lianlian DigiTech Co., Ltd., a prominent player in AI-enhanced digital payment solutions, has successfully secured a payment services licence from the Dubai Financial Services Authority (DFSA). This licence empowers the firm to establish operations at the Dubai International Financial Centre (DIFC), a premier financial hub in the Middle East, Africa, and South Asia (MEASA).
This approval represents a significant advancement in Lianlian's strategy for global growth, solidifying its footprint in the Middle East. The acquisition of this licence transitions the company’s activities from initial market entry to a fully licensed regional headquarters located in Dubai.
By operating out of DIFC, Lianlian is set to enhance its cross-border payment and settlement capabilities throughout the Middle East and beyond. The company announced plans to collaborate closely with local banks to deliver more efficient, localized payment solutions for enterprises.
Additionally, Lianlian aims to upgrade its transaction and settlement frameworks, ensuring that cross-border financial services are more stable, secure, and trustworthy. These initiatives are anticipated to streamline international payments for businesses expanding within and beyond the Middle East.
Emily Zhou, General Manager for the UAE at Lianlian, emphasized that the Middle East serves as a crucial nexus for trade and finance among Asia, Europe, and Africa. She highlighted the significance of the DFSA licence as a pivotal achievement in the company's localization efforts.
Furthermore, Zhou noted that Lianlian will continue to forge partnerships with local financial entities and ecosystem stakeholders to bolster the regional payment network and cater to the increasing demand for global payment solutions.
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, expressed enthusiasm for Lianlian’s expansion within the region. He stated that the company’s proficiency in cross-border payments would benefit businesses reliant on a robust and compliant payment infrastructure.
Jaffery further commented that Lianlian’s establishment enhances DIFC’s status as a vital hub for Chinese firms and underscores its growing reputation as one of the world’s leading fintech centers.
Lianlian has recently articulated its ambition to transition towards becoming an AI-driven global financial infrastructure entity, aligning closely with DIFC’s aspiration to be recognized as the world’s first AI-native financial center.
Holding 68 payment licences across key global markets, Lianlian's payment network encompasses over 100 countries and regions worldwide.
With operations now based in DIFC, Lianlian seeks to forge stronger connections between China, the Middle East, and global markets via secure and compliant cross-border payment infrastructures.
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