Overview
- Revolut announced the in-principle approval from Dubai’s Virtual Assets Regulatory Authority on Wednesday, July 15, 2026, but it still needs final VARA authorisation before it can begin commercial services.
- The VARA nod covers virtual asset broker-dealer activity, asset management and investment services, and exchange operations under Dubai’s licensing framework.
- This approval builds on licences granted by the Central Bank of the UAE in June 2026 for stored value facilities and retail payment services, which together enable a combined payments and crypto offering.
- Revolut plans to deliver services through its main retail app and its standalone exchange, Revolut X, to eligible UAE customers once operational readiness and final regulatory checks are complete.
- Tighter global rules are shaping the rollout: the EU’s MiCA framework entered full enforcement on July 1, 2026, increasing supervisory and anti-money-laundering scrutiny that is influencing Revolut’s compliance and product decisions.