Uzbekistan-founded fintech platform OSON has received In-Principle Approval from the Dubai Financial Services Authority (DFSA) to establish an entity in the Dubai International Financial Centre (DIFC). The move signals a major step in the company’s plan to extend its digital payment services from Central Asia into the Middle East and North Africa (MENA) region.
Expansion from Central Asia
Originally launched in Uzbekistan, OSON has expanded its operations to serve over three million users across several Central Asian markets, including Kazakhstan, Kyrgyzstan, and Tajikistan. The company operates under multiple regulatory licences and in partnership with various banks and payment platforms throughout the region.
The core of its offering is the OSON Wallet, a multi-currency digital payment solution that facilitates peer-to-peer transfers, merchant payments, and other financial services across borders. The platform is built on OSON’s proprietary technology, which prioritises regulatory compliance, scalability, and interoperability between different markets.
Securing a Foothold in Dubai
The In-Principle Approval for its new entity, OSON DIFC Limited, is a critical milestone that positions the company to progress towards full licensing in the UAE. This will enable OSON to roll out its wallet-based payments, remittances, and other fintech solutions across the wider region. The decision is seen by analysts as an example of Central Asian startups expanding beyond their local markets into global financial ecosystems.
“We view digital finance as a bridge, not a barrier,” said Farkhod Makhmudov, founder and CEO of OSON. “Entering the UAE is part of our vision to connect users, banks, and businesses across dynamic markets by leveraging trusted fintech infrastructure.”
A Fintech Bridge to the Gulf
In the MENA region, OSON plans to focus on cross-border payments and regional wallet services. The company also intends to form collaborations with local banks and payment institutions, aligning with the region’s broader push towards digital economic transformation and efforts to accelerate fintech growth in Qatar and other Gulf nations.
As the firm prepares for its first major investment round, it aims to establish itself as a “fintech bridge” between Central Asia and the Gulf. This strategy relies on its proven technology and commitment to regulatory compliance as key pillars for growth, helping to connect talent and investment across the two rapidly developing regions.
