Revolut Gains Ground in Dubai with VARA Crypto Approval

Once final authorization is secured, Revolut plans to roll out brokerage, management, and exchange services for eligible UAE customers. These tools will be integrated directly into its retail application and the dedicated trading platform, Revolut X. Joseph Khair, head of Revolut Digital Assets FZE, highlighted the UAE’s transparent framework as the cornerstone for this expansion, noting that the move aligns with local efforts to foster a secure, innovation-focused digital market.

This development complements Revolut’s existing payments business, which previously received authorization from the Central Bank of the UAE. The company is simultaneously navigating shifting regulatory landscapes elsewhere, including the recent removal of Tether’s USDT from European accounts to comply with the EU’s MiCA framework. Meanwhile, the firm remains focused on its U.S. ambitions, where it is actively pursuing a national bank charter to integrate FDIC-insured products with crypto trading and multi-currency services.