Valify Secures FRA Approval to Power Egypt’s Digital Contracting Future

Egyptian RegTech leader Valify has received a major endorsement from the Financial Regulatory Authority (FRA), officially securing a license to provide digital contract issuance and secure electronic record-keeping services. This authorization positions Valify at the forefront of Egypt’s push toward full digital transformation and aligns closely with the national ambitions outlined in Vision 2030 to reduce dependence on foreign technologies.

The FRA license enables Valify to offer legally recognized digital contracting and registry solutions, fully aligned with Egypt’s Digital Contracts Law No. 5 of 2022. These services empower a broad spectrum of businesses—including banks, SMEs, and corporates—to generate, manage, and safely store digital contracts using blockchain-enabled systems. This shift away from paper-based processes is expected to significantly cut operational costs while enhancing data security and process efficiency.

Valify’s CEO, Omar Abdel Wahed, expressed pride in the FRA’s endorsement, noting that the license is more than just regulatory approval—it’s a national mandate to continue building homegrown digital tools that meet international standards. “This recognition drives us to deliver secure, innovative technologies that fulfill the evolving needs of Egypt’s institutions,” he said.

Launched in 2019 with 100% Egyptian capital and a fully local team, Valify has already embedded its solutions within major banks and corporates across sectors including finance, logistics, and e-commerce. Its offerings include digital identity verification (eKYC) using national ID data, digital signatures, smart contracts, and immutable digital records—all hosted on local infrastructure. These capabilities not only enhance efficiency and security but also promote financial inclusion and national tech self-sufficiency.

The FRA’s decision highlights Valify’s high compliance standards and strategic role in accelerating Egypt’s fintech innovation. It also underscores the growing public-private collaboration to modernize Egypt’s digital economy and develop sovereign digital capabilities.