UPay
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| Industry | Financial services |
|---|---|
| Founded | 2023, a year ago |
| Headquarters | Dubai, United Arab Emirates |
| Services |
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| Website | upay |
UPay Financial Technology Co., Ltd. is a financial technology company founded in 2023, headquartered in Dubai, United Arab Emirates. The company specializes in digital asset management and financial services, including payment solutions, remittances, and crypto-collateralized loans. The company serves clients in over 168 countries with a user base exceeding 500,000 and facilitates transactions across multiple currencies.
History
UPay was established in 2023 and is headquartered in Dubai, United Arab Emirates. The company utilizes blockchain technology to provide innovative solutions for individuals and businesses, bridging the gap between traditional finance and digital assets.
Shortly after its inception, the company launched its flagship credit card and mobile app, allowing users to utilize their digital assets for everyday transactions.
By late 2023, UPay obtained Money Services Business (MSB) licenses in the United States and Canada, enabling it to provide cross-border payment solutions in two of the largest global markets.
In 2024, the company expanded its regulatory framework by securing a Money Service Operator (MSO) license in Hong Kong, a Trust and Company Service Providers (TCSP) license, and a Lithuanian financial license.
Products and services
UPay provides a range of financial services aimed at enhancing the usability and accessibility of digital assets:
- Crypto Loan Services: UPay’s crypto loan product allows users to secure short-term liquidity without selling their cryptocurrency. This service offers flexible borrowing terms with variable interest rates, catering to traders and individuals with immediate cash flow needs while preserving their digital asset investments.
- Credit Card Payment: UPay’s credit card service enables users to collateralize digital assets to access a spending limit for online and offline transactions. These cards are integrated with global payment platforms such as Apple Pay and Google Pay, providing a seamless and flexible user experience. Cardholders benefit from globally accepted transactions, local and international cash withdrawals, and real-time spending tracking.
- Remittance Services: The remittance solution facilitates secure, efficient, and compliant cross-border transactions. Leveraging advanced technology and interbank networks, UPay supports global business models by enabling rapid and cost-effective fund transfers across multiple jurisdictions.
Awards and recognitions
- UPay was named the "Highest Fintech Technology Service Center."
- The company has achieved the "Highest Level Hardware Security Module.”