IFX Payments, a London-based service-led alternative banking partner, has expanded its footprint in the UAE after securing a category 3C license from the Dubai Financial Services Authority (DFSA).
This license enables the company to offer money and custody services locally, helping clients and partners streamline cross-border transactions, mitigate currency risk, and simplify their financial operations.
After 12 years of operating as a representative office in Dubai, the company has relocated to a larger office within Dubai International Financial Centre (DIFC) and plans to invest in growing its local team.
Wasan Zaini, who previously led the company’s FX desk in London and the Dubai representative office, will head the new UAE operations.
This move follows the company’s acquisition of a Canadian FMSB license in 2023, marking a strategic milestone in its global expansion.
Will Marwick, CEO of IFX Payments, commented: “Expanding our services in the UAE is a vital stepping stone towards our vision of becoming the number one service-led alternative banking partner in EMEA for corporates and financial institutions. By combining seamless international payments with strategic foreign exchange risk management, we’re empowering businesses in the region to operate globally with greater confidence and control.”
