Floxy Pay Secures Non-Custodial Wallet License From RAK DAO

Floxy Pay, a pioneering fintech company in the digital finance sector, has achieved a significant milestone by securing a non-custodial wallet license from the Ras Al Khaimah Digital Assets Oasis (RAK DAO). This license, granted by the UAE’s dedicated free zone for digital asset companies, underscores Floxy Pay’s commitment to providing secure, efficient, and globally accessible cryptocurrency solutions.

RAK DAO, established in 2023 by the government of Ras Al Khaimah, is the first free zone in the UAE exclusively focused on digital and virtual asset companies. With this license, Floxy Pay enables users to securely send and receive cryptocurrencies, enhancing the overall user experience in the digital finance landscape.

Omran, the Founder of Floxy Pay, expressed his pride in achieving this milestone, stating, “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.”

Floxy Pay’s non-custodial wallet design ensures that users retain full control over their private keys, thereby enhancing security and autonomy. The platform’s zero gas fees on crypto transactions are a notable feature, significantly reducing costs for regular users. Additionally, Floxy Pay supports USDT to INR conversion, facilitating seamless and efficient cross-border transactions and withdrawals for Indian users.

This licensing achievement is a testament to Floxy Pay’s growing credibility in the Web3 space and its dedication to shaping the future of decentralized finance. The company’s focus on user empowerment and cost-effective solutions positions it as a leader in the digital finance industry, paving the way for more innovative and accessible financial services.