The Dubai International Financial Centre (DIFC) reported today it has registered more than 100 fintech companies, with the number rising three-fold since the end of last year.
The figures show a three-fold increase in registered fintech companies since the end of 2018, with a steep rise through 2019 as fintech firms from across the region and further afield choose the DIFC as their business jurisdiction.
DIFC said its fintech ecosystem more than doubled in size from over 80 to 200 companies in the last six months.
Arif Amiri, CEO of DIFC Authority, said: "The significant rise in the number of registered fintech firms establishing a presence at the centre highlights our sustained efforts to transform the region's financial technology ecosystem and drive sustainable economic growth.
"It is a reflection of our commitment to reinforcing Dubai's position as one of the world's top ten fintech hubs. We aim to continue this momentum and growth through our evolving regulatory environment and the quality of collaborators we bring into the DIFC, as our vision of driving the future of finance becomes a reality."
Recent arrivals at DIFC include Bankable, the UK-based architect of digital banking and payment solutions and QFPay, Hong Kong's global mobile payment technology company.
Several of the DIFC's fintech companies participate in the zone's accelerator programmes and the DIFC Fintech Hive conference organised annually.