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Robinhood is officially on its way to the Middle East. The US trading app received authorization from the Dubai Financial Services Authority on October 22, clearing it to offer trading and custody across all 10 asset classes the regulator permits, including equities, crypto, ETFs and investment tokens. The DIFC will be its regional headquarters, and the platform is set to launch in 2027. The approval closes a process that began in August 2025, when Robinhood first applied for its license and started hiring in Dubai.
Robinhood is arriving in a crowded market. eToro secured a full Abu Dhabi license back in November 2023, and Interactive Brokers opened its DIFC office in 2024. The line behind them is getting longer: Alpaca received in-principle approval from ADGM for brokerage and virtual asset custody, Bybit secured its VARA license for spot trading, and Australia’s IUX was licensed by the UAE’s Capital Market Authority. For the region’s retail investors, the choice of where to trade is widening quickly, and the competition for their accounts is about to get more expensive.
Elsewhere, MNT-Halan’s parent completed a $71.2 million capital injection into its newly listed Egyptian arm, DPI closed its Egypt-focused fintech fund, Nclude, at more than $112 million, and Bahrain’s Mumtalakat partnered with ARP Group to build an AI-native wholesale bank. On the M&A front, PayTabs agreed to acquire SeaPay for $9.3 million and Khazna acquired Pharos Consumer Finance.
And now, here’s everything. 👇
The Rundown
💸 Fundraises & Exits
🚀 Partnerships and Product Launches
Telr partners with CreditPool to launch multi-card payments, allowing customers to combine cards at checkout
Checkout.com joins forces with PRYPCO to power its payment infrastructure
Lean Technologies partners with Sakhi to enable smarter lending decisions across the Kingdom
Saudi’s Raya Financing chooses Temenos Core as its core banking platform
Visa and etisalat money partner to expand international money transfers in the UAE.
🏛️ Policy & Regulation
Egypt’s Financial Regulatory Authority approves the set-up of MIDBANK Digital Finance for SMEs
Abu Dhabi Global Market Registration Authority issues guidance classifying crypto mining as a licensed commercial activity
Animoca Brands is approved to manage collective investment funds in Abu Dhabi
The UAE Capital Market Authority licenses Australian trading brokerage platform, IUX
Abu Dhabi Global Market’s Financial Services Regulatory Authority gives Alpaca in-principle approval for a Financial Services Permission in brokerage and virtual asset custody services
The Dubai Financial Services Authority authorizes Robinhood to provide trading and custody across 10 asset classes
Dubai’s Virtual Assets Regulatory Authority grants Bybit a Virtual Asset Provider license for spot trading
The Central Bank of the UAE grants Ziina a Retail Payment Services Category III license.
🗂️ Other News
European Investment Bank commits $37.5 million to Tanmiya Capital Fund II
UAE-based short-term rental proptech, Silkhaus, winds down its UAE holiday home business
Bahrain’s sovereign wealth fund, Mumtalakat, partners with ARP Group to estable an AI-native wholesale bank
Egypt’s Raya Holding for Financial Investments launches Raya Ventures, its corporate VC arm to invest in early-stage AI and fintech startups
HSBC shares plans to open a wealth centre in Abu Dhabi
Development Partners International announces the final close of Nclude, Egypt-based fintech fund, at more than $112 million.
🤓 Trivia of the week
How many individual investors are registered on Saudi Arabia’s stock market?
Editor’s Picks
That’s the last 2 weeks of fintech news from around the Middle East and North Africa for you.
Until next time, salam ✌🏼
Trivia answer: About 7.16 million by the end of 2025, roughly one in five people in the Kingdom. The twist: those investors hold 14.57 million portfolios between them, more than two each. It’s the kind of engaged retail base every broker arriving in the region is hoping to win over.
