StashAway, a Singapore-based digital wealth manager, has received the regulatory approval to open for business in the UAE.
The approval from the Dubai Financial Services Authority makes it the first digital wealth manager in the UAE to be licensed to market to retail as well as professional investors, according to StashAway.
The platform is available to both local and international investors.
“The UAE has a large mass affluent segment that has had to rely on traditional investment products that are often expensive and generic,” said Ramzi Khlief, StashAway’s Mena general manager.
“We identified this gap in the market for sophisticated, accessible, global investment options and we are excited to launch our services here in UAE and the wider Mena region.”
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