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Stripe Enters The Middle East With Its UAE Launch

Stripe will initially only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.

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stripe enters the middle east with its uae launch

Stripe, a provider of online payment processing for internet business, has finally expanded to the Middle East with its official launch in the United Arab Emirates. The Irish-American company also opened an office in Dubai Internet City, allowing it to be closer to its new customer base.

At first, Stripe will only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.

“The UAE is a thriving hub for technology, supported by strong investor appetite, internet-savvy consumers, and an open, innovative ecosystem of business leaders and entrepreneurs,” said Matt Henderson, EMEA Business Lead at Stripe. “Our launch today also means we can now connect our global user base to the Gulf, enabling them to seamlessly expand their operations in the region.”

stripe launches in the united arab emirates

Stripe Newsroom

Stripe’s entry into the Middle East market comes just weeks after its latest round of funding, which has resulted in the company’s value jumping up to $95 billion and making it one of the most valuable fintech companies in the world.

The UAE is the perfect entry point for the online payment processing provider because the total value of digital payment transactions in the gulf country has doubled in the last two years alone, reaching $18.5 billion in 2020. If the UAE remains on the current growth trajectory, its e-commerce sector is expected to add nearly another $10 billion over the next two years.

Also Read: Sarwa Helps UAE Residents Easily Invest In Global Stocks

Another factor that makes the UAE such an ideal expansion point is the fact that accepting online payments in the country has historically been incredibly challenging. Stripe provides a straightforward setup process and developer-friendly APIs, making it easy for companies of all sizes to improve their online presence.

Last year, Stripe launched in the Czech Republic, Hungary, Romania, Bulgaria, Cyprus, and Malta. The company also expanded into Africa via Nigeria technology startup Paystack. In total, Stripe currently processes hundreds of billions of dollars each year.

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Abu Dhabi To Develop $1 Billion eSports Island Facility

Positioned along the picturesque Al Raha beach, the venue is poised to become a focal point for gaming enthusiasts worldwide.

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abu dhabi uae to develop $1 billion esports island facility
True Gamers

Despite the economic slowdown of global eSports, the Middle East has emerged as a beacon of innovation and investment, particularly in infrastructure aimed at attracting top talent. According to a report by BCG, the region’s population exhibits a remarkable fondness for gaming, with over 60% actively participating and some of the highest figures of mobile game downloads in the world.

The latest addition to the UAE’s burgeoning eSports landscape is Abu Dhabi’s ambitious eSports Island project. Positioned between the Al Bandar and Al Dana developments along the picturesque Al Raha beach, the island is poised to become a focal point for esports enthusiasts worldwide.

True Gamers — a key player in the gaming industry — has pledged a substantial investment of $280 million to develop Abu Dhabi’s eSports Island. Upon completion, the project is anticipated to cost a staggering $1 billion.

true gamers esports island details

The island will boast state-of-the-art amenities geared towards training aspiring eSports professionals and hosting international tournaments. The GG Bootcamp, equipped with cutting-edge gaming infrastructure, will provide a comprehensive training facility, dedicated rest areas and even nutrition programs.

At the heart of the eSports Island lies the True Gamers (TG) Arena, envisioned as a premier venue for hosting high-profile competitions with thousands of spectators. Adaptable spaces are designed to cater to various gaming formats and genres, and the arena will also serve as a hub for digital exhibitions and conferences. Additionally, the Digital Tower will offer a collaborative workspace for developers, and the island will host tourists and event goers in 200 rooms with in-built gaming computers.

Also Read: Top 10 Best Video Games Set In The Middle East

Establishing an eSports hub in Abu Dhabi will reinforce the UAE’s position as a global market leader, capitalizing on the region’s growing appetite for gaming. As international tournament organizers increasingly focus on the Middle East, the unveiling of Abu Dhabi’s eSports Island heralds a new era of innovation and growth for the industry.

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