Botim Money, the financial services arm of the MENA region’s rapidly growing fintech platform, has signed a Memorandum of Understanding (MoU) with Binance, the world’s largest blockchain ecosystem. The partnership, announced during Binance Blockchain Week in Dubai, aims to explore avenues for providing millions of users in the UAE with access to digital assets.
This collaboration marks a significant step in Botim’s strategic expansion from a communications-led app to a unified, fintech-first platform where users can pay, transfer, and invest within a single ecosystem.
Combining Local Fintech With Global Crypto Expertise
Under the MoU, the two companies will investigate solutions that merge Binance’s deep expertise in digital assets with Botim’s extensive fintech capabilities and user base in the UAE. The discussions will center on identifying practical and secure methods to create safe and compliant access to cryptocurrencies for everyday users.
The partnership leverages Botim’s established position in the local market, including its payment and transfer rails, to potentially unlock new ways for its customers to engage with the digital economy.
Sacha Haider, Chief Strategy Officer of Astra Tech | Botim, commented on the vision, “Our international and national P2P rails support large and growing transaction flows every day, showing how deeply integrated botim money has become in people’s financial lives. Unlocking crypto capabilities with Binance allows us to build on this foundation and offer customers new ways to engage with the digital economy.”
Focusing On Financial Inclusion And Regulation
A key aspect of the collaboration is its focus on financial inclusion. Botim Money has historically supported underserved and unbanked populations with limited access to traditional financial systems. The partnership will explore providing these communities with simplified and secure access to digital assets through regulated channels.
The MoU reflects the increasing interest in digital assets across the Middle East, where evolving regulatory frameworks are fostering responsible financial innovation. Both Botim and Binance are committed to studying how these services can operate within the UAE’s established regulatory landscape.
Catherine Chen, Head of VIP & Institutional at Binance, stated, “Crypto is no longer a niche asset class and it is increasingly becoming integrated into everyday financial services. Our collaboration with botim money to make digital assets accessible to botim’s tech-savvy customers exemplifies this shift. The UAE is taking exciting steps to connect traditional finance with digital assets, and we are pleased to keep supporting the local community and ecosystem.”
About Botim Money
Botim Money, formerly PayBy, is a part of Astra Tech’s ecosystem and powers the financial services layer of Botim, the MENA region’s first AI-native, fintech-first platform. Licensed by the Central Bank of the UAE, Botim Money provides secure and seamless financial solutions to millions of users. Its services include digital wallets, local and international money transfers, remittances, and payment solutions, all aimed at advancing financial inclusion across the region.
Source: Zawya
