New fintech firm launches in Dubai to boost SMEs

By Rahul Vaimal, Associate Editor
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A new digital treasury services management provider SH Capital (SHC) has been launched in Dubai to enhance small and medium enterprises (SMEs) by offering world-class global banking services, asset management, foreign exchange (FX) hedging solutions, investment products and services.

SHC is a subsidiary of Ireland-based Stanhope Financial Group, which provides access for SMEs and mid-market enterprises (MMEs) to capital markets and transaction banking.

The independent fintech company said in a statement that it had secured a regulatory license from the Dubai Financial Services Authority (DFSA) and is set to start trading by the end of the second quarter of 2021.

SHC will serve as an intermediary for customers, allowing them to access leading and global tier-one cash investment products. Furthermore, the leading industry experts in the Stanhope team will provide advice for clients on commercial paper, money market funds, futures, options, ETFs, and FX hedging solutions.

Besides, SHC has already collaborated with a range of global counterparties, exchanges, and e-trading venues to provide liquidity in the equity, FX, fixed income, and commodity markets for all customers.

The company noted in a statement, “To do this, SHC leverages the latest RegTech and blockchain technology, which helps to significantly reduce CBR risk and service friction, whilst maintaining a fast, secure and transparent service. More specifically, AML, KYC, trade monitoring, and a distributed ledger technology are just some of the technology utilized for efficient and safe execution of service.”

Khalid Talukder
Khalid Talukder
MD – SH Capital

“Many of these businesses struggle to gain access to efficient and high-quality digital asset management and investment products globally to support their treasury activities. We aim to provide a fully digital service offering via our platform allowing easy access to various cash asset management products, services, and investment products that they need to thrive in an increasingly competitive global world. SH Capital will change all that, reconnecting these fast-growing firms mid-market corporates which are the backbone of GCC commerce with the products offered by Tier 1 financial institutions, as well as offering treasury consultancy to take them to the next level.”

“We’re excited to have received our operating license and formally launch SH Capital in Dubai. Our on-the-ground team of experts will begin trading immediately, providing ambitious businesses across the region with tier one banking and payments services to enable rapid growth during an incredibly challenging time. This is the first of many expansion plans for the Stanhope Financial Group, with similar launches in Europe and other key regions in the first part of 2021,” commented Kevin von Neuschatz, Group CEO, Stanhope Financial Group.