Banking-as-a-Service provider NymCard has received in-principle SVF licensing approval from the Central Bank of the UAE. The move strengthens its regulated card issuance capabilities.
Regional Banking-as-a-Service (BaaS) and card issuer NymCard has obtained in-principle approval from the Central Bank of the UAE for a Stored Value Facility (SVF) licence.
The licence allows NymCard to provide domestic digital wallet, prepaid card, and embedded payment infrastructure directly to fintechs and enterprise clients across the UAE.
NymCard is MENA's leading embedded finance and card issuing platform, based in Dubai, founded in 2018, operates in the Fintech sector.
NymCard has raised $63M in disclosed funding to date according to the DXBStart company directory. Its most recent disclosed stage is Series B ($33M, Mar 2025).
The DXBStart company profile at dxbstart.com/company/nymcard aggregates every news story DXBStart has indexed about NymCard, along with funding history, stage, status, and company details.
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