Revolut has secured payment licences from the Central Bank of the United Arab Emirates, paving the way for the fintech to launch services in one of the Middle East's financial hubs and extending its global regulatory expansion.
The company announced on 17 Jun it has received Stored Value Facilities and Retail Payment Services licences from the Central Bank of the UAE. The approval completes a licensing process that began with in-principle approval from UAE regulators in September 2025 and marks another step in the fintech's international expansion strategy.
Revolut said it plans to build out its local offering before a full launch, eventually allowing UAE customers to hold multiple currencies, make payments and transfer money internationally through its app.
Global push
The UAE licence comes as Revolut accelerates a regulatory expansion drive spanning Europe, Latin America and North America. Since 2025, the fintech has secured a Markets in Crypto-Assets (MiCA) licence in Cyprus for crypto services across the European Union, launched full banking operations in Mexico and advanced plans to establish a bank in Peru. The company has also said it plans to reach 100 markets globally, with Latin America emerging as a major focus.
In the US, the fintech applied in March for a national bank charter and appointed former Visa executive Cetin Duransoy as its US chief executive, signalling a shift from offering limited services through partner banks to building a fully licensed banking operation in the US market.
If approved, the charter would allow Revolut to operate as a bank across all 50 states, offering services such as deposit accounts, lending and credit cards, while providing direct access to US payment infrastructure.
Revolut's expansion strategy is also geared towards a future listing. Chief executive Nikolay Storonsky said in April that the company is at least two years away from a stock market listing, according to the Financial Times. The fintech was last valued at $75bn and has reportedly discussed a potential valuation of $150bn-$200bn with investors.
Crypto footprint
Crypto has become a meaningful part of Revolut's growth. Reuters reported in October that at least 14mn of the fintech's 65mn customers were approved for crypto services, representing roughly 22% of its user base.
The company launched crypto trading in 2017 and expanded its offering with the Revolut X exchange in 2024. Although the fintech has not disclosed crypto trading volumes, the segment has been a major contributor to growth in its Wealth division, which includes digital asset and securities trading.
The UAE has emerged as a major hub for digital asset firms since introducing dedicated crypto regulatory frameworks in recent years. Dubai's Virtual Assets Regulatory Authority (VARA), established in 2022, has since licensed dozens of crypto businesses, including major exchanges such as Binance, Crypto.com, Bybit and OKX.
