Recent Insights

Discover a different perspective

Home News Sokin Secures DFSA Licence, Plans to Expand UAE Workforce to 100 Employees

News

Sokin Secures DFSA Licence, Plans to Expand UAE Workforce to 100 Employees

By Faizal

14 Nov 2026

Sokin Secures DFSA Licence, Plans to Expand UAE Workforce to 100 Employees

Global financial technology company Sokin has secured a licence from the Dubai Financial Services Authority (DFSA), marking a significant step in its expansion across the Middle East. The London-founded fintech has also opened a new office at One Za’abeel in Dubai and plans to increase its UAE workforce to 100 employees over the next 12 months.

The regulatory approval will allow Sokin to strengthen its payment services for businesses operating in the UAE and international markets.

New Dirham Accounts and Payment Services

Through a strategic partnership with Ruya Community Islamic Bank, Sokin will offer businesses locally banked UAE dirham accounts. Customers will be able to manage dirhams alongside multiple foreign currencies and make cross-border payments through the company's platform.

The DFSA licence, obtained through Sokin's Dubai International Financial Centre (DIFC) entity, supports services including payment transactions, payment instruments and account information services.

The development is expected to help companies managing international operations simplify payments and financial management.

UAE Team to Reach 100 Employees

Sokin currently employs approximately 65 people in the UAE and plans to expand the team to 100 over the coming year. Recruitment will focus on partnerships and other operational roles as the company strengthens its regional presence.

Founder and CEO Vroon Modgill said Dubai is a strategic base for the company's international operations rather than a satellite office. Sokin has also partnered with Seed Group to support its regional expansion.

Strengthening Global Payment Operations

Founded in 2019, Sokin provides multi-currency accounts and international payment infrastructure for businesses. The company says its platform supports transactions across more than 170 countries and 70 currencies, processing over $11 billion in annual payment volumes.

With its new regulatory approval, local banking partnership and growing workforce, Sokin aims to strengthen its position in the UAE's expanding fintech sector and serve businesses with increasingly complex cross-border payment requirements.

You may also like that news:-

Written by

Faizal

Faizal is an experienced content creator and writer with a strong focus on business trends, economic developments, and emerging opportunities across the Gulf region. His work reflects a keen understanding of evolving markets, industry dynamics, and the factors shaping the region’s business landscape. With a research-driven approach, Faizal transforms complex market developments into clear, informative, and actionable insights for professionals, entrepreneurs, and business leaders. His content aims to provide valuable perspectives on key economic trends and developments influencing businesses across the Gulf.