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UK FinTech firm Revolut arrives in the UAE with regulator's approval
Revolut received in-principle licenses from the UAE Central Bank to offer digital wallets and payment services, aiming to expand hiring and tap into the $44 billion remittances market.
- Revolut received in-principle approval from the Central Bank of the UAE on Tuesday, enabling plans to offer payment services to UAE retail customers.
- The UAE is viewed as a key growth market because of high digital adoption, prompting Revolut to expand beyond Europe after securing central bank approval.
- The approvals cover a Stored Value Facilities licence and a Retail Payment Services licence, allowing Revolut to store funds and process transactions under Central Bank regulations for safeguarding, anti-money‑laundering, and UAE data storage.
- Revolut will ramp up hiring across the UAE in the coming months to support its launch and operations, aiming to offer a comprehensive product experience to UAE retail customers and rank among the top three financial apps.
- Revolut, which plans to expand in the UAE, announced on Tuesday that industry data show 62% of banks explore FinTech partnerships, highlighting broader industry trends.
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Revolut Receives Approval to Provide Services in UAE
Revolut received preliminary approval from the Central Bank of the United Arab Emirates (CBUAE) to obtain a local license as a retail payment services provider and stored value facilities operator.... Сообщение Revolut Prepares to Provide Payment Services in UAE появились сначала на CoinsPaid Media.
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Total News Sources14
Leaning Left2Leaning Right2Center1Last UpdatedBias Distribution40% Left, 40% Right
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
40% Right
L 40%
C 20%
R 40%
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