Saudi Arabia's STC Pay plans to expand its financial services offering across the Gulf region, after achieving a billion-dollar "unicorn" valuation on the back of a deal with Western Union.
"We are very proud of becoming the first unicorn in the Kingdom and the first fintech unicorn in the Middle East," STC Pay CEO Ahmed Alenazi told CNBC in an exclusive interview on Monday.
STC Pay is the digital payment arm of Saudi Arabia's STC Group, the largest telco operator in the Kingdom.
STC Pay is now in talks with Gulf regulators to seek approval to operate in the United Arab Emirates, Kuwait and Bahrain, subject to regulatory approvals.
"This is where we want to change the way people look at financial services," Alenazi said.
Ahmed Alenazi, Alenazi
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