Global Economic Times

dLocal Strengthens Emerging Market Dominance: Secures Licenses in UAE, Turkey, Philippines, and Expands African Market Presence: Ana Fernanda Reporter / Updated : 2025-06-24 18:06:12

dLocal, a cross-border payment specialist, has significantly strengthened its global presence by securing key payment licenses in the United Arab Emirates (UAE), Turkey, and the Philippines. This marks a crucial milestone in dLocal's mission to connect emerging markets and integrate the financially underserved into the global digital economy.

Headquartered in Uruguay, dLocal obtained a payment services license in the UAE, enabling it to directly operate inbound and outbound cross-border payment flows. In Turkey, it received approval from the Central Bank to process cross-border payments in collaboration with local fintech company Lidio Payment Services Inc. Furthermore, in the Philippines, a market with significant remittance inflows, dLocal secured a Money Services Business license, allowing it to directly manage remittance flows.

These three new approvals further solidify dLocal's regulatory compliance framework, which now encompasses over 30 licenses and registrations worldwide, including the Authorized Payment Institution license obtained from the UK's Financial Conduct Authority (FCA) earlier this year. Such an extensive licensing portfolio enables compliant operations within local regulatory environments, providing a competitive advantage and facilitating efficient direct integrations. Pedro Arnt, CEO of dLocal, emphasized, "Expanding our license footprint in high-growth, core markets like the UAE, Turkey, and the Philippines is essential to our mission of unlocking the potential of emerging markets and connecting financially underserved populations to the global digital economy."

dLocal specializes in addressing unique payment challenges in regions where traditional card payments account for a low percentage of overall transactions. Through a single integration, they offer global businesses access to over 900 local payment methods in more than 40 countries, supporting diverse payment options such as digital wallets, instant payment networks, and bank transfers, thereby fostering economic growth.

Meanwhile, dLocal recently announced its plan to acquire AZA Finance, an African B2B cross-border payments and FX solutions specialist. Founded in 2013, AZA Finance is a key player in the African market, having processed over 15 million transactions and moved more than $9 billion in funds. This acquisition is expected to strengthen dLocal's footprint in Africa and expand its cross-border transaction volume, particularly in the remittance sector.

It will also enhance dLocal's financial operations, including over-the-counter foreign exchange (OTC FX) capabilities, expanding stablecoin coverage, and improving payment efficiency. According to Reuters, the acquisition of AZA Finance is valued at approximately $150 million, marking a strategic M&A move by dLocal following its 2022 acquisition of payment service provider PrimeiroPay.

Additionally, reports have emerged that dLocal has engaged Morgan Stanley to explore strategic options, including a potential sale. This move comes after the company's stock price fell approximately 33% last year, bringing its market capitalization to around $3.4 billion. Private equity firms and large fintech providers are reportedly being considered as potential acquisition candidates.

dLocal's multi-faceted endeavors reflect its efforts to fully leverage the potential of emerging markets in the rapidly evolving global payments landscape and to further strengthen connections between businesses and consumers worldwide.