The global payment platform PingPong has announced the receipt of principal approval from the Central Bank of the United Arab Emirates (CBUAE), marking it as the first Chinese third-party payment institution to hold a payment license in the UAE. This milestone will empower PingPong to swiftly expand its footprint in the UAE market, offering a comprehensive suite of services including account opening and cross-border transfers to both local and international enterprises. This strategic development paves the way for enhanced engagement and development in the Middle East market.