Neobanks in UAE
These 14 are headquartered in the UAE — parsed from the registered base of each company, so the count is complete. Availability is a different and much harder question: it is verified for 7 products in the UAE so far, out of 368 tracked, so a neobank missing from the second table below has not been ruled out — it has not been checked. Corrections are welcome on GitHub.
The 14 based in UAE
| neobank | type | hq | custody | licence / structure | reported users |
|---|---|---|---|---|---|
| 1inch Card | web3-native | Dubai, AE | Self-custodial | Self-custodial; card via Baanx/Crypto Life | — |
| Baraka | traditional | Dubai, AE | Custodial | DFSA-regulated investment firm (DIFC, ref. 4153); broker-led model, execution via licensed partners | — |
| Bybit Card | hybrid | Dubai, AE | Custodial | VARA (Dubai) + regional | — |
| COCA | hybrid | Dubai, AE | MPC self-custodial | MPC self-custody; e-money card partners (UK/EU) | — |
| Fasset | hybrid | Dubai, AE | Custodial | VARA VASP licence (Dubai, broker-dealer); provisional Islamic digital-bank licence in Malaysia | — |
| Liv. | traditional | Dubai, AE | Custodial | Operates under Emirates NBD's banking licence (CBUAE) as its digital bank | — |
| Mashreq Neo | traditional | Dubai, AE | Custodial | Bank (Mashreq) | — |
| NOW Money | traditional | Dubai, AE | Custodial | E-money institution / Stored Value Facility licence (Central Bank of UAE); funds safeguarded at UAE banks incl. CBI | — |
| Pyypl | traditional | Dubai, AE | Custodial | FSRA (ADGM) money services licence No. 170031; non-bank payment institution; also CBB Bahrain, AFSA Kazakhstan | — |
| Sarwa | traditional | Dubai, AE | Custodial | FSRA-regulated (ADGM, UAE) investment platform; robo-advisory and broker services | — |
| Wio Bank | traditional | Abu Dhabi, AE | Custodial | UAE banking licence | — |
| XPlace | hybrid | Dubai, AE | Custodial | Self-custodial (non-custodial Solana smart contracts); cards issued via Rain (Signify Holdings) under Visa licence | — |
| YAP | traditional | Dubai, AE | Custodial | Partner bank (Ruya Community Islamic Bank, CBUAE-licensed; formerly RAKBANK) | — |
| Zand | traditional | Dubai, AE | Custodial | UAE banking licence | — |
Also verified as available in UAE
4 more products are verified as available to customers in UAE without being based there. This list is as complete as the availability field, which is to say partial.
| neobank | type | hq | custody | licence / structure | reported users |
|---|---|---|---|---|---|
| Wise | traditional | London, UK | Custodial | E-money/payment licences globally | 19M customers (FY26) |
| Crypto.com | hybrid | Singapore, SG | Custodial | MiCA CASP, MAS MPI, US MSBs | — |
| Xapo Bank | hybrid | Gibraltar | Custodial | Gibraltar banking licence | — |
| Deel | hybrid | San Francisco, US | Custodial | MSB + US state money-transmitter licences (DPayments); US wallet via Alviere/CFSB; DLUSD via Bridge | — |
Common questions
Neobanks in UAE: how many are there?
14 of the 368 neobanks tracked here are headquartered in the UAE. Every entry is verified active and listed on this page with its custody model, licence detail and the regions it serves.
Which neobanks in UAE are the largest?
Not answerable from public data: only 0 of these 14 disclose a user figure at all. The list below is therefore not a ranking, and anyone presenting one for this category is guessing.
How is this list of neobanks in UAE built?
These 14 are headquartered in the UAE — parsed from the registered base of each company, so the count is complete. Availability is a different and much harder question: it is verified for 7 products in the UAE so far, out of 368 tracked, so a neobank missing from the second table below has not been ruled out — it has not been checked. Corrections are welcome on GitHub.
Related
Neobanks in United States (63) · Neobanks in United Kingdom (29) · Neobanks in Germany (8) · Neobanks in France (11) · Neobanks in Brazil (10) · Neobanks in Argentina (9) · Neobanks in Mexico (11) · Neobanks in Colombia (7)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.