The past year has seen significant growth in UAE's fintech industry, with almost half of MENA's fintech companies based in the country. Digital banking is becoming increasingly competitive, cryptocurrency more accepted, and e-commerce has been driving the sector's growth.

The fastest growing fintech companies, spearheading the industry's acceleration, include Telr, a payment gateway provider that has established several vital partnerships and broadened the scope of its services in the process; BitOasis, a cryptocurrency exchange that has doubled its user base this year; NymCard, a banking service platform that has raised 7.9 million dollars in funding and has also made key partnerships; tabby, a BNPL company that has reached a valuation of 300 million dollars; and Sarwa, an online investments company that has recently launched a zero-commission trade service and received major funding.