DLocal, the leader cross-border payment platform specializing in emerging markets, proudly announces the obtaining of three pivotal licenses and authorizations.
These strategic approvals from regulatory bodies in the United Arab Emirates, Turkey, and the Philippines ignite a new chapter in dLocal's global expansion, reaffirming our steadfast commitment to navigating and upholding the highest standards of regulatory compliance in diverse markets worldwide.
In the United Arab Emirates, dLocal has been granted a Payment Services License. This license enables dLocal to directly operate cross-border flows for both payins and payouts, our two main services, within the country.
In Turkey, dLocal has received authorization from the Central Bank of the Republic of Türkiye to operate cross-border payments via Lidio Payment Services Inc (Lidio). We consider Lidio a key player in the local market, and this authorized partnership will help us to ramp up the volume and operations in the Turkish market.
In the Philippines, a key market for the inflow of remittances, dLocal has obtained a Money Services Business License, allowing the direct operation of remittance flows in the country.
These new licenses join dLocal's growing portfolio of over 30 licenses and registrations worldwide, notably including the FCA (Financial Conduct Authority) license obtained earlier this year in the UK. Operating with this portfolio of licenses provides a compliant framework within local regulatory landscapes, offering a material advantage over competitors and the potential for more efficient direct integrations.
"Expanding our licensed footprint in key high-growth markets like the UAE, Turkey, and the Philippines is essential to our mission of unlocking the power of emerging markets and connecting financial underserved populations to the global digital economy. It demonstrates our commitment to operating under the highest standards of trust and compliance, providing our global merchants with the secure and reliable access they need to reach billions of consumers." said Pedro Arnt, CEO.
dLocal specializes in solving the unique payment challenges in regions where traditional cards represent only a fraction of transactions, connecting global companies to over 900 local payment methods across 40+ countries through a single integration. By enabling merchants to accept payments via methods like digital wallets, instant payment networks, and bank transfers, dLocal empowers populations who rely on these alternative methods and fosters economic growth.