International partnership formed between Ant Group and Abu Dhabi Investment Office, along with obtaining an Innovation Proof of Concept (IPC) permit from the Central Bank of the UAE. This alliance aims to fuel local digitalization and fintech initiatives.
Ant International, a global digital payment and fintech provider, has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Investment Office (ADIO). This strategic collaboration aims to leverage Ant International’s technological expertise to advance Abu Dhabi’s financial technology sector, empower local businesses with digital tools, and promote financial inclusion and global connectivity.
Peng Yang, Chief Executive Officer of Ant International, stated that the In-Principle Approval from the Central Bank of the UAE is a significant step towards Ant International's mission to empower local businesses, especially Small and Medium Enterprises (SMEs), and connect them to new global growth opportunities.
The partnership aligns with ADIO's strategy to accelerate fintech growth, foster innovation, and strengthen economic ties between Abu Dhabi and key Asian markets. H.E. Badr Al-Olama, Director General of ADIO, emphasised that Abu Dhabi is a key jurisdiction for fintech firms seeking longevity, due to its progressive regulation, robust digital infrastructure, and strategic location.
The collaboration is expected to have a profound impact on Abu Dhabi's digital finance ecosystem. It will expand the adoption of advanced digital payment and fintech solutions locally, support SMEs by providing innovative digital tools to enhance their growth and access to international markets, and enhance financial inclusion, thereby broadening access to financial services.
Furthermore, the partnership reinforces Abu Dhabi’s position as a burgeoning fintech hub with a robust digital infrastructure and progressive regulatory framework. Ant International's goal is to bring AI-powered fintech solutions spanning merchant services, wallet technology, and digitisation tools to the UAE.
Once the final licenses are granted, Ant International will offer a comprehensive suite of payment and other related solutions in the UAE, including merchant acquiring, payment aggregation, e-wallet issuance, and domestic and cross-border fund transfers. Peng Yang emphasized that the support from ADIO has been instrumental in helping Ant International establish its presence in Abu Dhabi.
Ant International has received In-Principle Approval for the Stored Value Facilities (SVF) and the Retail Payment Services and Card Schemes (RPSCS) licenses from the Central Bank of the UAE (CBUAE). The In-Principle Approval is a testament to the productive collaboration between Ant International and CBUAE’s Fintech Office.
H.E. Badr Al-Olama stated that the agreement with Ant International reflects a broader inflection point in digital finance, where scale is about resilience, trust, and regulatory clarity. He also expressed that the agreement underscores Ant International’s commitment to supporting the Central Bank’s digital transformation agenda and contributing to the UAE’s fintech ecosystem.
Ant International looks forward to contributing to the UAE’s growing digital economy and shared success. Peng Yang expressed gratitude for the guidance and support of CBUAE’s Fintech Office. The strategic collaborative relationship between Ant International and ADIO is foundational to Ant International’s mission in Abu Dhabi.
In conclusion, the collaboration between Ant International and ADIO is a significant step to deepen Abu Dhabi’s fintech ecosystem through technology transfer, fostering innovation, and connecting it more closely to global digital finance networks, especially between the UAE and Asian markets. Abu Dhabi, under the leadership of ADIO, is actively shaping digital innovation for the future, according to H.E. Badr Al-Olama. Ant International's aim is to scale the growth of the UAE in line with the nation’s 'We the UAE 2031' digitalisation and fintech strategy.
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