DLocal, a Nasdaq-listed leader in cross-border payments, has acquired new licenses to facilitate cross-border payment operations in the United Arab Emirates, Turkey, and the Philippines.

These licenses increase dLocal’s total to over 30 globally.

In the UAE, it received a Payment Services License to manage payins and payouts directly.

In Turkey, it gained approval via Lidio Payment Services Inc. to conduct cross-border transactions, and in the Philippines, it obtained a Money Services Business License for remittances.

These new licenses may enhance dLocal’s ability to operate within regulatory frameworks.

They will also provide services for merchants working with local acquirers.

🔗 Source: DLocal

🧠 Food for thought

1️⃣ Strategic timing amid Middle East’s payment infrastructure evolution

dLocal’s UAE license acquisition aligns with a significant transformation of payment infrastructure in the Middle East, where new regional platforms are reshaping cross-border transactions.

The region has recently launched major payment platforms including BUNA (developed by the Arab Monetary Fund) and AFAQ (initiated by the Gulf Cooperation Council), which now process approximately 15,000 transactions monthly with a 15% month-on-month growth rate 1.

These regional payment systems currently support over $28 billion in remittances and $271 billion in trade flows within the Arab region, demonstrating the substantial market dLocal is positioning itself to serve 1.

By securing a Payment Services License in the UAE specifically, dLocal gains direct access to a market that has been actively developing its payment infrastructure, including the launch of the Aani instant payment platform in October 2023 1.

This licensing move positions dLocal to participate in the UAE’s growing digital payment ecosystem while potentially connecting with the broader regional payment networks being established.

2️⃣ Capitalizing on economic diversification and increasing cross-border flows

dLocal’s expansion into the UAE, Turkey, and the Philippines reflects a strategic response to changing economic patterns driving increased payment service demand.