Floxy Pay, an emerging fintech innovator in the digital finance space, has officially received its license as a non-custodial wallet under the Ras Al Khaimah Digital Assets Oasis (RAK DAO), UAE’s dedicated free zone for digital asset companies. This milestone marks a significant step in Floxy Pay’s journey to offer secure, seamless, and globally accessible cryptocurrency solutions.
RAK Digital Assets Oasis (RAK DAO), launched in 2023 by the government of Ras Al Khaimah, is the first free zone in the UAE dedicated solely to digital and virtual asset companies. With Floxy Pay, users can securely and efficiently send and receive cryptocurrencies.
“Getting licensed under RAK DAO validates our vision of creating a safe, user-focused ecosystem for digital asset transactions. We’re proud to lead the way in bringing more accessible and cost-effective financial solutions to emerging markets.”
— Omran, Founder of Floxy Pay
Floxy Pay is designed to empower users with complete control over their digital assets. As a non-custodial wallet, it ensures private key ownership remains with the user, offering increased security and autonomy. The platform features zero gas fees on crypto transactions, a standout feature that significantly reduces costs for regular users. Additionally, Floxy Pay supports USDT to INR conversion, making cross-border transactions and withdrawals seamless and efficient for Indian users.
Floxy Pay’s licensing is a strong signal of its growing trust in the Web3 space and its commitment to shaping the future of decentralized finance.