Revolut has received key regulatory approvals from the Central Bank of the United Arab Emirates, clearing a major hurdle as the fintech giant prepares to launch its services in one of the Middle East’s most competitive financial markets.
The London-based company said it has been granted Stored Value Facilities (SVF) and Retail Payment Services licences under Category II, following an in-principle approval issued in September 2025. The authorisation completes Revolut’s licensing process in the UAE and allows it to begin building out its local offering ahead of a full rollout.
The move marks a significant step in Revolut’s broader Middle East expansion strategy, as the firm looks to tap into the UAE’s fast-growing digital payments ecosystem and internationally mobile population. With more than 75 million users globally, Revolut has been steadily pushing into new markets amid rising demand for app-based financial services.
“The UAE’s position as a global hub for financial services innovation is built on the strength of its regulatory environment,” said Mohammad Abdulrahman Alhawi, Undersecretary at the UAE Ministry of Investment. He added that Revolut’s approval underscores the country’s appeal to international firms contributing to its knowledge-based economy.
For Revolut, the licences provide a foundation to offer multi-currency accounts, domestic and cross-border transfers, and card-based payments within a regulated framework. The company is expected to tailor its product suite to the UAE’s expatriate-heavy population, where demand for seamless international money movement remains high.
Ambareen Musa, Revolut’s GCC chief executive, described the approval as “a pivotal moment,” highlighting the firm’s focus on compliance and long-term investment in the region. “We see tremendous opportunity to contribute to the country’s digital economy by providing consumers with more choice and greater control,” she said.
Revolut said it is now investing in local infrastructure, hiring, and operational capabilities to support its launch, though it has not disclosed a timeline for going live.
The entry of a global player like Revolut is set to intensify competition in the UAE’s fintech space, where incumbents and startups alike are racing to capture a share of digital payments, remittances, and neobank services.