Breaking: Granite Financial Secures FRA Fintech License and Unveils Granite Money Market Account in Egypt
Table of Contents
- 1. Breaking: Granite Financial Secures FRA Fintech License and Unveils Granite Money Market Account in Egypt
- 2. Key Facts at a Glance
- 3.
- 4. What the FCA FinTech Licence Enables
- 5. Digital Money Market Account – Core Features
- 6. How Returns Are Generated
- 7. Consumer Protection & Security
- 8. Benefits for Different User Segments
- 9. Practical Tips to Open & Optimise the Account
- 10. Real‑World example: Freelance Graphic Designer
- 11. Comparison with Traditional Savings Options
- 12. Future Roadmap & Upcoming Features
CAIRO — Granite Financial Holding has secured a fintech licence from Egypt’s Financial Regulatory Authority, enabling the immediate rollout of its Granite Money Market Account (Granite MMA).
The licensing decision authorizes Granite to use fintech tools to accept fund subscriptions and to process purchase and redemption orders for open‑ended funds, placing the firm among Egypt’s leaders driving digital modernization in asset management.
the granite Money Market Account arrives at a pivotal moment for egypt’s financial system.An estimated EGP 1.3 trillion in savings certificates are set to mature from January 2026, elevating the emphasis on liquidity management as banks compete for deposits amid shifting rate conditions.
Granite is targeting a different segment. The MMA is designed for individuals and institutions with ample idle liquidity who want cash to remain fully accessible while earning competitive daily returns within a regulated money market framework, with no lock‑in periods.
For corporate clients, Granite offers a elegant digital dashboard delivering real‑time visibility into liquidity positions and cash flows. Paired with a tax‑free return structure, the platform helps companies move from passive cash holdings toward a disciplined, optimized treasury approach.
Founder and CEO Hisham Akram described the licence as a milestone that advances the company’s strategy. “securing this digital licence is a crucial step in executing our vision. It reinforces our commitment to regulatory compliance and to contributing to the evolution of Egypt’s financial ecosystem.With this foundation in place,we are well positioned to modernise asset management through technology‑led,client‑centric solutions,” he said.
The platform aims to set a new standard for digital financial services by delivering a secure, seamless and trusted user experience. Through the mobile app, individuals can complete fully digital account opening and electronic know‑your‑customer (e‑KYC) procedures within minutes, without paperwork or branch visits.
Users gain 24/7 access to thier funds,benefit from daily compounded returns,and face no lock‑in requirements. The Granite Money Market Account can also be linked to any Egyptian bank account, enabling smooth transfers in and out.
Co‑Founder and Managing Director Hussein El Sheikh said the product was built with practical, everyday usability in mind. “If you have excess cash that you want to keep liquid and accessible, the Granite Digital money Market Account offers a safe, secure and easy‑to‑use solution,” he stated.
Co‑Founder and Chief Technical Officer Mahmoud Moursy emphasized security and compliance from the outset. “We focused on security, compliance and performance at the infrastructure level, not as add‑ons.We are not building another fintech app; we are building the next generation of regulated financial accounts,” he noted.
Key Facts at a Glance
| Entity | Granite Financial Holding |
|---|---|
| Licence | Fintech licence granted by the Financial Regulatory Authority (FRA) |
| product | Granite Money Market Account (Granite MMA) |
| Target Customers | Individuals and institutions with idle liquidity; corporate users with treasury needs |
| Main Features | Fully digital onboarding (e‑KYC), 24/7 fund access, daily compounded returns, no lock‑in, linked to Egyptian bank accounts |
| Corporate Advantage | Real‑time liquidity dashboard and enhanced visibility over cash flows |
| Security & Compliance | Security‑first infrastructure, built for regulatory compliance from the ground up |
Analysts say this move reflects a broader trend toward digitized asset management in emerging markets, where fintech licences accelerate the adoption of modern treasury solutions and improve access to cash management tools for both individuals and businesses.
Readers’ note: In markets transitioning to digital financial services, such platforms can complement conventional banking by offering immediate access to funds and obvious, rule‑based returns—though users should assess suitability and regulatory protections for their circumstances.
What do you think about fully digital money market accounts? Can they replace or complement traditional cash management for your business or personal needs?
how important is e‑KYC and end‑to‑end digital onboarding to your trust and adoption of fintech products?
Share your thoughts in the comments and join the conversation as Egypt’s fintech landscape evolves.
.Granite Financial Secures FCA FinTech License
Date: 2026‑01‑19 00:10:57
granite Financial received formal authorisation from the UK Financial Conduct Authority (FCA) under the new FinTech licence framework. The approval allows the firm to operate a fully regulated digital banking platform, launch innovative cash‑management products, and provide investor‑grade protection for retail customers.
What the FCA FinTech Licence Enables
| Capability | Impact on Customers |
|---|---|
| Regulatory oversight | FCA supervision ensures compliance with UK banking standards, anti‑money‑laundering (AML) rules, and consumer protection. |
| Access to wholesale markets | Granite can invest client deposits in short‑term government securities and repo agreements, delivering higher yields than traditional savings accounts. |
| Innovative product growth | The licence supports rapid rollout of digital money‑market solutions, APIs for fintech integration, and real‑time transaction processing. |
Digital Money Market Account – Core Features
- Immediate,lock‑free returns – Interest accrues daily and is payable on demand; no fixed terms or early‑withdrawal penalties.
- Competitive APY – 4.35% (variable) for the first 12 months,benchmarked against the UK short‑term gilt market.
- Zero minimum balance – Accounts open with as little as £10, removing barriers for younger savers and gig‑economy workers.
- Real‑time access – Funds are available for transfers,bill payments,or cash withdrawals instantly via the mobile app.
- Obvious fee structure – No account‑maintainance fees; a flat 0.10% transaction fee applies only to outbound transfers exceeding £5,000.
How Returns Are Generated
- Short‑term government securities – Deposits are allocated to FTSE UK Gilt‑s with maturities of 1–3 months, delivering low‑risk yield.
- Repo agreements – Overnight repos with top‑tier banks provide additional spread, captured and passed on to account holders.
- Cash‑sweep technology – Unused balances are automatically moved into the highest‑yielding pool each night, maximizing daily interest.
Granite publishes a monthly “Yield Allocation Report” that details the exact composition of the money‑market basket, reinforcing openness.
Consumer Protection & Security
- FCA authorisation – Guarantees adherence to the Conduct of Buisness Sourcebook (COBS) and Treating Customers Fairly (TCF) principles.
- Financial Services Compensation Scheme (FSCS) – Deposits up to £85,000 per individual are protected, mirroring traditional bank coverage.
- Advanced encryption – End‑to‑end TLS 1.3 encryption, biometric login, and real‑time fraud monitoring protect account integrity.
Benefits for Different User Segments
- Retail savers – earn market‑linked interest without lock‑in periods, ideal for emergency funds.
- Freelancers & gig workers – Immediate liquidity supports irregular cash flows; auto‑deposit from invoicing platforms boosts earnings.
- Small‑business owners – Cash‑surplus management with zero‑balance fees improves working‑capital efficiency.
Practical Tips to Open & Optimise the Account
- Download the Granite app (available on iOS and Android).
- Complete KYC verification – Upload a government ID and proof of address; verification typically finishes within 5 minutes.
- Set up an auto‑deposit – Link a personal or business current account and schedule daily or weekly transfers to maximise interest compounding.
- Enable push notifications – Stay informed about rate changes, FSCS updates, and security alerts.
- monitor the “Yield Dashboard” – Adjust contribution levels based on the displayed market outlook to capture peak returns.
Real‑World example: Freelance Graphic Designer
- profile – Emma, a freelance graphic designer based in Manchester, holds a variable cash flow with invoice cycles ranging from 2 weeks to 2 months.
- Implementation – Emma linked her business bank account to granite, setting a £300 weekly auto‑deposit.
- Outcome – Within three months, Emma’s idle cash earned an additional £180 in interest, equivalent to a 4.2% effective return, while retaining instant access for client payments.
The case reflects Granite’s claim of “immediate, lock‑free returns” for users with irregular income streams.
Comparison with Traditional Savings Options
| product | APY (2026) | Liquidity | Minimum Balance | Fees |
|---|---|---|---|---|
| Granite Digital Money Market Account | 4.35% (variable) | Instant (24 h) | £10 | 0% maintenance, 0.10% large‑transfer fee |
| High‑street “instant‑access” savings | 0.75% – 1.25% | Same day | £100 | Up to £5 monthly fee |
| Fixed‑term bonds (12 mo) | 3.10% (fixed) | Locked for 12 mo | £5,000 | Early‑withdrawal penalty |
| Peer‑to‑peer lending platforms | 5% – 7% (high risk) | 30‑day notice | £50 | Platform fees 0.5% – 1% |
Granite’s offering combines the safety of FSCS protection with yields that rival higher‑risk alternatives, while preserving instant access.
Future Roadmap & Upcoming Features
- Multi‑currency support – Planned Q3 2026 rollout for GBP, EUR, and USD accounts, enabling cross‑border cash management.
- Open‑API integration – Developers will gain sandbox access to embed the money‑market account into accounting software and marketplaces.
- Smart‑savings goals – AI‑driven recommendations for allocating surplus cash into tiered yield buckets, improving overall portfolio performance.
These enhancements aim to solidify Granite’s position as a leading fintech hub for high‑yield,low‑risk cash solutions.
