Revolut, the global financial app with over 60 million customers worldwide, has received in-principle approval for its Stored Value Facilities and Retail Payment Services (Category II) licenses from the Central Bank of the UAE (CBUAE).
This significant achievement signals Revolut’s plans to launch in the UAE, with the aim of offering a comprehensive product experience to retail customers.
The UAE represents a pivotal growth market for Revolut, driven by its dynamic economy, high digital adoption rates, and strategic position as a global financial hub. The region’s forward-thinking regulatory environment and strong demand for innovative financial solutions make it an attractive destination for both investment and expansion.
By working in close collaboration with the Central Bank of the UAE, Revolut is poised to deliver exceptional results for customers, ushering in a new era of financial flexibility in the region.
Ambareen Musa CEO of GCC – Revolut
“Receiving these in-principle approvals from the Central Bank of the UAE is a pivotal step for Revolut in the region. Our goal is to empower individuals here with cutting-edge financial tools that offer transparency, flexibility, and control, addressing key pain points in the current financial landscape. We are committed to setting a new standard for financial services worldwide, and eagerly anticipate bringing Revolut to the dynamic UAE market.”
Revolut will also ramp up hiring efforts across the UAE over the coming months. With its remote-first approach, the company is uniquely positioned to attract top talent from across the region, fostering flexibility, inclusion, and access to a broader, highly skilled talent pool.
Revolut continues to grow its presence outside of Europe and the UK, with operations in Australia, Brazil, Mexico, Japan, New Zealand, Singapore, the US, and India, and is working toward becoming one of the top three financial apps in every market it enters.
Revolut’s expansion into the UAE further underscores the company’s relentless commitment to global growth, and providing localized solutions to benefit customers across the world. By establishing a presence in key markets like the UAE, Revolut continues to extend its reach and fulfill its overarching vision of empowering individuals worldwide with greater control over their finances.
