Key Highlights Dubai’s Virtual Assets Regulatory Authority granted Revolut preliminary approval to provide cryptocurrency services across the UAE The authorization encompasses broker-dealer o
The London-headquartered financial technology firm Revolut has secured preliminary authorization from the Virtual Assets Regulatory Authority (VARA) in Dubai to deliver cryptocurrency services throughout the United Arab Emirates.
BREAKING: Revolut wins in-principle approval from UAE authorities for crypto services.
London fintech cleared for broker-dealer and exchange licenses by Dubai regulators. pic.twitter.com/jLveMtjeZq
— MSB Intel (@MSBIntel) July 15, 2026
The regulatory greenlight encompasses three distinct service categories: broker-dealer functions, management and investment operations, and exchange facilities. Customers based in the UAE will gain access to these offerings via both the standard Revolut mobile application and the dedicated Revolut X trading platform.
Joseph Khair, serving as Revolut’s digital assets director for the UAE free zone establishment, stated that this authorization “establishes the groundwork for Revolut to deliver its reliable virtual asset offerings within a properly regulated framework.”
VARA’s approval complements the payment services authorization Revolut previously obtained from the UAE’s Central Bank. This dual licensing structure strengthens Revolut’s position within the Emirates’ financial ecosystem.
The UAE achievement represents one component of Revolut’s comprehensive international expansion initiative. The firm secured a banking license in the United Kingdom during March 2026. Additional regulatory applications remain under review for a banking charter in the United States and licensing approval in Peru.
Current data shows VARA has granted full licenses to 51 organizations for cryptocurrency service provision in the UAE. An additional 22 entities, Revolut among them, currently maintain preliminary approval status.
VARA extended provisional authorization to Payward, which operates the Kraken cryptocurrency exchange, during May. Kraken anticipates completing its full UAE launch in the near future.
While pursuing growth in the UAE, Revolut is implementing contrasting measures in European territories. The platform intends to remove Tether’s USDT stablecoin for clients in the European Economic Area and Switzerland, with implementation scheduled for August.
This determination stems from an assessment of cryptocurrency offerings under the European Union’s Markets in Crypto-Assets regulation, commonly referenced as MiCA. The regulatory framework established a July 1 deadline for digital asset service providers to obtain proper licensing.
Revolut verified the upcoming delisting to Cointelegraph in recent communications. The company attributed the decision to risk assessment factors arising from the updated regulatory requirements.
These parallel developments — territorial expansion in the Middle East alongside stablecoin withdrawal in Europe — illustrate how divergent regulatory landscapes are influencing Revolut’s cryptocurrency approach across different markets.
Revolut remains in the process of securing final authorization from VARA before commencing full virtual asset service operations in Dubai.
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