Revolut receives in-principle approval from UAE authorities for crypto services
Summary
Revolut received in-principle approval from Dubai’s Virtual Assets Regulatory Authority to offer crypto services in the UAE, after also securing UAE central bank approval for payment activities. The approval covers broker-dealer, management and investment, and exchange services, letting UAE users buy, sell, and hold digital assets through the app and Revolut X. The move supports Revolut’s expansion in regulated markets and follows its UK banking license received in March. The company still has pending applications for a US banking charter and licensing in Peru. VARA continues to expand its crypto roster, with dozens of licensed firms and more awaiting full approval.
