botim money, the fintech arm of the region’s leading ultra-app, has signed a Memorandum of Understanding (MoU) with Binance to explore the integration of digital asset trading and investment services for its users in the UAE. The collaboration marks a significant step in bridging the gap between traditional communication platforms and the burgeoning crypto economy.
The agreement, signed during Binance Blockchain Week in Dubai, aligns with botim’s strategic evolution from a VoIP-led platform into a comprehensive “fintech-first” ecosystem. By leveraging Binance’s liquidity and infrastructure, the partnership aims to enable users to pay, transfer, and invest in digital assets directly within the app they already use for daily communication and remittances.
Integrating crypto into everyday finance
The collaboration focuses on developing solutions that combine Binance’s digital asset expertise with botim’s extensive reach across the UAE. The primary objective is to identify practical, safe, and compliant pathways for users to access cryptocurrencies, reflecting the growing demand for digital assets in the Middle East.
Catherine Chen, head of VIP & institutional at Binance, highlighted the mainstream shift of the asset class. “Crypto is no longer a niche asset class and it is increasingly becoming integrated into everyday financial services,” Chen said. “Our collaboration with botim money to make digital assets accessible to botim’s tech-savvy customers exemplifies this shift. The UAE is taking exciting steps to connect traditional finance with digital assets, and we are pleased to keep supporting the local community and ecosystem.”
Expanding financial inclusion
For botim money, which holds both Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses from the Central Bank of the UAE, the move is a natural extension of its financial inclusion mandate. The platform currently serves millions of users, including the unbanked and underserved, providing them with digital wallets and international money transfer services.
Sacha Haider, chief strategy officer of Astra Tech (parent company of botim), commented on the integration’s potential impact. “Our international and national P2P rails support large and growing transaction flows every day, showing how deeply integrated botim money has become in people’s financial lives,” Haider explained. “Unlocking crypto capabilities with Binance allows us to build on this foundation and offer customers new ways to engage with the digital economy. Our focus remains on giving people simple and secure tools to manage and grow their money.”
The partnership aims to study how these services can fit within the UAE’s established regulatory landscape, ensuring that the expansion into digital assets is both responsible and compliant.
