Dubai's Virtual Assets Regulatory Authority has granted Revolut an in-principle approval to offer virtual asset services in the UAE, putting the fintech a step away from launching crypto trading in one of the world's most active regulated digital asset markets.
The approval covers three service categories: broker-dealer, management and investment, and exchange services. None of those can go live yet. Final regulatory sign-off is still required before Revolut can actually switch anything on for customers.
Once cleared, the offering will run through two channels: Revolut's main retail app and Revolut X, its standalone crypto exchange. UAE users would be able to buy, sell, and hold digital assets within the country's regulated framework. Revolut counts more than 75 million customers globally, 16 million of whom already use its crypto features, primarily in the UK and the European Economic Area.
A busy year for Revolut in the Gulf
This isn't the company's first regulatory win in the country this year. Earlier in 2026, Revolut received approval from the Central Bank of the UAE to conduct payment activities. The two authorisations together, according to the company, are meant to support building a locally regulated financial ecosystem rather than just plugging into an existing one.
Joseph Khair, Head of Revolut Digital Assets FZE in the UAE, said the VARA approval "lays the foundation" for introducing digital asset services in a regulated environment. He framed Dubai's approach as "global leadership" in virtual asset regulation, language that fits neatly with VARA's own stated goals of a transparent, innovation-driven market.
Revolut is not the only firm queuing up in Dubai. MultiBank and CoinMENA have both secured VARA authorisations in recent months. The regulatory pipeline has been widening since last year, when VARA and the Securities and Commodities Authority aligned their licensing frameworks, allowing Dubai-issued crypto licences to operate more broadly across the broader UAE after satisfying compliance requirements.
This article is for informational purposes only and does not constitute financial advice or an investment recommendation.
