Revolut Wins Initial VARA Approval to Launch Crypto Services in UAE

Revolut has secured in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer broker-dealer, management, investment, and exchange services in the UAE. The fintech, which serves over 75 million customers globally, must obtain final regulatory sign-off from VARA before launching regulated crypto services through its retail app and standalone exchange Revolut X. The approval covers Revolut's Virtual Assets Service Provider (VASP) Licence, positioning the UAE alongside its existing crypto operations in the UK and European Economic Area, where it counts more than 16 million crypto customers.
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