Revolut Receives In-Principle Approval from UAE Authorities for Crypto Services

The Virtual Assets Regulatory Authority of Dubai has given 22 companies in-principle approval to offer crypto services since 2024, with Revolut joining the list on Wednesday.

Revolut Receives In-Principle Approval from UAE Authorities for Crypto Services

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Written by

Turner Wright

staff writer

Reviewed by

Sam Bourgi

staff writer

Written by

Turner Wright

staff writer

Reviewed by

Sam Bourgi

staff writer

Revolut receives in-principle approval from UAE authorities for crypto services

Latest News

Published

Jul 15, 2026

Dubai’s Virtual Assets Regulatory Authority approved the London-headquartered fintech company for broker-dealer, management and investment, and exchange services in the UAE.

UK-based financial company Revolut has received approval from the Virtual Assets Regulatory Authority (VARA) of Dubai to offer crypto-related services in the United Arab Emirates (UAE).

In a Wednesday notice, Revolut

said

that,

following a green light

from the Central Bank of the UAE for payment activities, VARA gave in-principle approval for the company to offer broker-dealer, management and investment, and exchange services in the UAE. The company said its services via the app and the Revolut X exchange would allow UAE-based users to buy, sell and hold digital assets.

“This approval lays the foundation for Revolut to introduce its trusted virtual asset services within a regulated environment,” said Revolut’s head of digital assets in the UAE free zone establishment, Joseph Khair.

The UAE regulatory approval followed Revolut

receiving a UK banking license

in March. The company still

has similar applications pending

for a US banking charter and licensing in Peru as part of its expansion plans.

Related:

ECB picks 36 payment providers to test digital euro ahead of 2027 pilot

At the time of publication, VARA

listed

51 companies licensed to offer crypto-related services in the UAE, with 22 entities granted in-principle approval. In May, the regulator

preliminarily approved

cryptocurrency exchange Kraken’s parent company, Payward. The company is expected to fully launch in the region soon.

Revolut to delist USDT next month amid regulatory concerns

Last week, a Revolut spokesperson

told Cointelegraph that the company planned

to delist the Tether USDt (USDT) stablecoin starting in August for the European Economic Area and Switzerland. The move followed a review of Revolut’s crypto services and risk considerations under the European Union’s Markets in Crypto-Assets (MiCA) framework, which required companies offering digital asset services to be licensed by July 1.

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