First Fintech Approved to Operate Under the UAE’s New Commercial Gaming Framework
ABU DHABI, UAE – 18 November, 2024 – PayBy Technology Projects LLC, an Astra Tech company and one of the UAE’s leading fintech platforms, announced today that it has been awarded a gaming-related license by the General Commercial Gaming Regulatory Authority (GCGRA), the federal entity overseeing commercial gaming activities in the United Arab Emirates (UAE). The award allows PayBy to provide financial services to GCGRA-licensed commercial gaming operators, marking a new milestone in the Authority’s endeavour to establish a well-regulated commercial gaming sector in the UAE.
As the first fintech to secure such a licence, PayBy will operate under the ‘Gaming-Related Vendor License’ category. The company is now authorised to provide a range of services, including digital wallets, secure payments, and advanced fraud detection systems, aligning with the GCGRA’s vision of creating a secure and innovative gaming environment that prioritises player safety.
Astra Tech’s Ultra app ecosystem integrates payments, remittances, lending, and now gaming-related services into a unified platform serving over 150 million users globally. Through strategic partnerships with global leaders like MoneyGram and Mastercard, Astra Tech continues to expand its reach and impact, delivering seamless financial solutions.
