Global financial app, Revolut, announced that it has secured in-principle approval from the Central Bank of the UAE (CBUAE). This approval is for both its Stored Value Facilities and Retail Payment Services (Category II) licences, the company announced via a press release on Tuesday.
The approval will allow Revolut to launch its full range of services locally, offering customers in the UAE access to its suite of financial tools. Revolut already has more than 60 million customers worldwide. Now, UAE users will get access to digital wallets, payments, and money management features. The move also aligns with Revolut’s global ambition to become a top-three financial app in every market it enters.
UAE’s fast-growing digital and crypto-friendly market
Speaking of expanding its reach, Ambareen Musa, CEO of GCC at Revolut, said, “Our goal is to empower individuals here with cutting-edge financial tools that offer transparency, flexibility, and control, addressing key pain points in the current financial landscape. We are committed to setting a new standard for financial services worldwide, and eagerly anticipate bringing Revolut to the dynamic UAE market.”
Expanding Revolut’s global reach
Beyond launching services, Revolut plans to ramp up recruitment across the UAE in the coming months. Its remote-first model will help attract a diverse and skilled workforce from around the region. Revolut is already active in markets including Australia, France, Brazil, Mexico, Japan, New Zealand, Singapore, the US, India, and is now expanding into the UAE.
The UAE is increasingly seen as a forward-looking, digital-friendly financial hub, attracting fintech innovators and crypto-related services. Revolut’s approval speaks to the region’s openness to modern financial platforms that can serve both traditional retail and crypto-forward customers.