Revolut secures Dubai VARA approval for crypto services

Revolut received in-principle approval from Dubai's VARA to offer regulated crypto services in the UAE, pending final authorization. Plans include digital asset services via its app and Revolut X exchange.

Revolut has received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer regulated crypto services in the UAE. This approval covers broker-dealer, management and investment, and exchange operations under Revolut's Virtual Assets Service Provider (VASP) Licence. While this marks a significant milestone in Revolut's expansion into the UAE, the company must still secure final regulatory authorization before launching its services. Once fully approved, Revolut intends to enable eligible UAE customers to buy, sell, and hold digital assets through its main retail app and its standalone crypto exchange, Revolut X. Additionally, Revolut has received approval from the Central Bank of the UAE for its payment activities, supporting a broader regulated financial ecosystem that could connect payments, currency services, and crypto products. The official launch date for these services has not yet been announced.