Revolut has secured in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA), marking a significant step toward launching regulated cryptocurrency services in the United Arab Emirates. The approval strengthens the fintech firm’s expansion strategy in the region and moves it closer to offering a full suite of digital asset services within a regulated framework.
The company has been building its presence in the UAE by obtaining key regulatory approvals, including licensing from the Central Bank of the UAE (CBUAE). With VARA’s in-principle approval, Revolut is preparing to introduce crypto-related products that will complement its existing financial services and broaden its digital banking ecosystem.
Once fully authorized, Revolut plans to offer broker-dealer services for buying and selling virtual assets, investment management tools for long-term portfolio management, and access to Revolut X, the company’s standalone crypto exchange tailored for professional traders. These services are expected to be integrated into the Revolut app, providing users with a unified platform for both traditional financial and digital asset activities.
The move reflects the UAE’s continued efforts to position itself as a global hub for digital assets through a regulatory framework that balances innovation with investor protection. Revolut’s entry into the market is expected to further strengthen Dubai’s reputation as a leading destination for blockchain and cryptocurrency businesses.
Joseph Khair, Head of Revolut Digital Assets FZE, UAE, said the company is committed to supporting the country’s regulatory vision.
“The UAE continues to demonstrate global leadership in establishing a robust and transparent framework for virtual assets, and we are proud to align with that vision. This approval lays the foundation for Revolut to introduce its trusted virtual asset services within a regulated environment, supporting VARA’s goal of fostering a safe, transparent, and innovation-driven virtual assets ecosystem.”
A key component of Revolut’s expansion is the introduction of Revolut X, a dedicated cryptocurrency trading platform designed for experienced investors. The exchange offers professional-grade trading tools, deep liquidity, and low-latency execution while operating within a regulated environment aimed at reducing counterparty risk.
By integrating regulated crypto trading with its broader banking and payment services, Revolut aims to provide UAE users with a seamless financial experience that combines fiat and digital assets under a single platform. The company believes this approach will help meet growing demand for secure and compliant cryptocurrency services as digital asset adoption continues to accelerate across the Middle East.
