Digital bank Revolut has obtained in-principle approval to deliver virtual asset services across the UAE. The Virtual Assets Regulatory Authority (VARA) in Dubai granted the preliminary license, positioning the company to introduce broker-dealer activities, asset management and investment services, as well as exchange functionalities in the region.
This development, announced on July 15, 2026, represents a key advancement in Revolut’s global growth plans.
With more than 75 million users worldwide, the company continues to prioritize compliance with forward-thinking regulatory standards that promote transparency and innovation.
The VASP approval builds on earlier progress: earlier in 2026, Revolut earned authorization from the Central Bank of the UAE for payment services.
Together, these milestones highlight the firm’s ambition to establish a fully regulated, comprehensive financial platform tailored to the local market.
Under the pending final approvals, Revolut plans to roll out eligible cryptocurrency services through its main mobile application and its dedicated trading platform, Revolut X.
UAE customers who meet the criteria would then gain the ability to purchase, sell, and securely store digital assets within a supervised environment designed to meet high compliance standards.
Joseph Khair, who leads Revolut Digital Assets FZE in the UAE, expressed enthusiasm about the regulatory alignment.
He noted that the UAE has positioned itself as a worldwide pioneer in creating clear and reliable rules for virtual assets.
Khair emphasized that the approval allows Revolut to bring its established crypto offerings into this well-governed space, contributing to VARA’s objectives of safety, openness, and technological advancement.
Revolut has steadily positioned itself as a preferred destination for cryptocurrency enthusiasts globally.
The platform already supports over 16 million crypto users and maintains a reputation for reliability and ease of use in markets such as the United Kingdom and the European Economic Area.
The impending UAE launch would extend this accessible experience to another dynamic financial hub, further cementing Revolut’s role in the evolving Web3 landscape.
The move arrives at a time when the UAE continues to attract international fintech players through its balanced approach to digital finance regulation.
By collaborating closely with VARA, Revolut aims to deliver services that not only expand customer choice but also uphold the highest standards of consumer protection and market integrity.
Industry observers view this approval as part of a broader trend of established financial technology firms deepening their presence in the Gulf, drawn by supportive policies and a growing appetite for digital assets.
As Revolut advances toward full operational capability in the UAE, the development underscores the company’s strategy of measured, regulation-first expansion.
Customers in the region can anticipate enhanced access to crypto tools integrated within a familiar banking-style app, potentially bridging traditional finance and blockchain-based opportunities more seamlessly than ever before. While final licensing details remain pending, this in-principle green light signals strong momentum for Revolut’s Middle East expansion efforts.
