Remitly Granted Stored Value Facilities License from the Central Bank of the UAE
Remitly (NASDAQ: RELY) has secured a Stored Value Facilities license with Exchange Business Category IV from the Central Bank of the UAE, becoming one of the first international remittance firms to do so.
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Rhea-AI Summary
Remitly (NASDAQ: RELY) has secured a Stored Value Facilities license with Exchange Business Category IV from the Central Bank of the UAE, becoming one of the first international remittance firms to do so. This authorization extends its regulated footprint in a key $50 billion remittance market.
The license enables Remitly to develop new, UAE-focused products for customers already sending money to over 175 countries. According to the company, 9.6 million quarterly users moved more than $80 billion in send volume over the last twelve months.
Positive
- Secures CBUAE Stored Value Facilities license with Exchange Business Category IV
- Expands regulated presence in UAE, a $50 billion annual remittance market
- Authorizes development of new products tailored for UAE customers
- Supports company strategy to strengthen long-term growth in the region
- Customer base of 9.6 million quarterly users with $80 billion send volume TTM
Negative
- None.
Details
News Market Reaction – RELY
On Jul 10, the first trading day after this news, RELY closed 0.89% above the previous close.
Data tracked by StockTitan Argus for the Jul 10 session.
Key Figures
- Remittance corridors
- more than 175 countries
- Current Remitly coverage for money transfers
- UAE cross-border flows
- $50 billion
- Estimated annual cross-border remittance volume from the UAE
- Quarterly users
- 9.6 million
- Quarterly users worldwide referenced in article
- Send volume
- $80 billion
- Customer send volume over the last twelve months
- Current share price
- $23.10
- Pre-headline price at publication
- 24h price change
- -4.27%
- Price move in the 24 hours before publication
- 52-week high
- $24.92
- Trailing 52-week high before this news
- 52-week low
- $12.08
- Trailing 52-week low before this news
Historical Context
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Announcement of webinar and multiple investor conference appearances in 2026.
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Launch of Bulk Payments and Send by Link, expansion to Canada for SMBs.
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Addition to S&P SmallCap 600 index alongside another company effective May 14.
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Record Q1 results with strong growth and raised full-year 2026 guidance.
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Expansion of WhatsApp Send and launch of Request Money for Mexico recipients.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
stored value facilities regulatory
digital remittance financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
ABU DHABI, July 09, 2026 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) is among the first international remittance companies to secure a Stored Value Facilities (SVF) license with Exchange Business Category IV from the Central Bank of the UAE, a major milestone in one of the world's largest remittance markets. This authorization further extends Remitly’s regulated global footprint and our service to customers across more than 175 countries, strengthening our position for long term growth in the region. The license follows a rigorous review process with the CBUAE and reflects the formal recognition of Remitly's commitment to the UAE and its customers. With the license secured, Remitly will be able to bring new products, purpose-built to serve UAE customers.
The UAE moves an estimated
"The UAE is one of the most important remittance regions in the world, and receiving our CBUAE license is a defining moment for Remitly”, said Davis Dominic Parakal, UAE CEO at Remitly. “We are grateful for the rigorous engagement with CBUAE throughout this process and are proud to operate to the high bar it has set for the industry. We are here to build something valuable for the diverse communities across the UAE."
This authorization arrives as the UAE accelerates its position as a global fintech leader. The CBUAE's dedicated digital remittance license category is designed specifically for globally minded operators committed to investing in the region for the long term. Remitly's presence here directly supports the UAE's 'We the UAE 2031' vision, which places fintech and digital financial services at the heart of the country's ambition to double the contribution of its digital economy to GDP.
The UAE license is the latest chapter in Remitly's global drive to expand access to fast, fair, and transparent financial services for the millions of people worldwide who have historically been underserved.
About Remitly: Remitly is a trusted provider of financial services that transcend borders. With a footprint spanning more than 175 countries, Remitly has built one of the world’s leading global money movement platforms, trusted by millions of customers. Remitly continues to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across a growing set of use cases.
Contacts
Media Inquiries:
press@remitly.com
Investor Relations:
ir@remitly.com
FAQ
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