Revolut has obtained in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer regulated crypto broker-dealer, management and investment, and exchange services in the United Arab Emirates. The authorization, announced on July 15, 2026, moves the global fintech closer to launching virtual asset products for its more than 75 million customers in the region.
Once final regulatory clearance is granted, Revolut intends to deliver these services through its Retail App and Revolut X exchange platform, enabling eligible UAE users to buy, sell, and hold digital assets within a fully licensed framework. The approval follows a separate milestone earlier this year, when the Central Bank of the UAE (CBUAE) awarded Revolut its stored value facilities and retail payment services licences, completing a licensing cycle that began with in-principle approval in September 2025.
Joseph Khair, Head of Revolut Digital Assets FZE, UAE, emphasized that the nod reflects the UAE’s “global leadership in establishing a robust and transparent framework” for virtual assets and will support VARA’s goal of fostering a safe, innovation-driven ecosystem. The expansion positions the UAE alongside the UK and the European Economic Area as a core crypto market for Revolut, which already serves over 16 million crypto customers worldwide.
Meanwhile, the timing coincides with stricter MiCA enforcement in Europe. The transitional period for Markets in Crypto-Assets ended on July 1, 2026, and EU regulators are stepping up oversight. The Authority for Anti-Money Laundering (AMLA) warned firms to maintain robust AML controls during customer migrations, while the European Securities and Markets Authority (ESMA) launched a coordinated review of MiCA-authorized crypto custodians on July 11. Revolut’s European operation itself is adjusting under MiCA, planning to reject new USDT deposits from July 30 and eventually remove the stablecoin under its Cypriot licence.
