UK-based fintech giant Revolut has secured in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency services in the United Arab Emirates, moving t
UK-based fintech giant Revolut has secured in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency services in the United Arab Emirates, moving the company a step closer to launching digital asset services in the region.
According to a notice issued on Wednesday, the VARA clearance follows an earlier green light from the Central Bank of the UAE for payment activities. The in-principle approval covers three service categories: broker-dealer operations, management and investment services, and exchange services. Revolut said UAE-based users will be able to buy, sell, and hold digital assets through both the main Revolut app and the Revolut X exchange platform.
