TransferMate, a provider of embedded B2B payments infrastructure as a service (IaaS), has submitted its application for a representative office license in Bahrain as it accelerates its expansion across the Middle East.

This means partners and their customers doing business in Bahrain will be able to access TransferMate’s full suite of services – including payments, receivables, and stored funds globally subject to regulatory approval. This will simplify cross-border transactions, enhance cash flow visibility, and reduce the need for multiple banking relationships for B2B clients in the region.

A license in Bahrain will mark another significant step in TransferMate’s global strategy – expanding its footprint in the high-growth Middle East region. With many multinational firms choosing to establish operations in the region, Bahrain represents a strategically important market for TransferMate, allowing it to better support ambitious partners and customers through its full suite of products.

“The Middle East is a region full of opportunity, with fast-growing economies and a strong appetite for innovation in financial services,” said Gary Conroy, CEO of TransferMate. “Submitting our license application in Bahrain is another key milestone as we expand our global footprint and build momentum following our recent e-money license in Singapore. With each new license we continue our expansion, further strengthening our position as owning the largest fintech payments infrastructure in the world. Creating a truly seamless, regulated infrastructure for B2B payments worldwide.”

TransferMate owns the largest fintech payment infrastructure in the world, currently owning 98 licenses, empowering businesses around the world to make and receive payments in more than 140 currencies across over 200 countries and territories.

Last week, TransferMate announced it received in-principle approval from the Monetary Authority of Singapore to add account issuance, domestic money transfers and e-money issuance to its Major Payment Institution license.