Revolut to Launch in UAE After Securing Central Bank Licenses

Dubai | EcoPulse24

British fintech giant Revolut has secured regulatory approvals from the Central Bank of the United Arab Emirates, paving the way for its launch in the country and reinforcing the UAE's growing role as a regional hub for financial innovation and digital banking.

The London-based company said the UAE central bank approved its applications for Stored Value Facilities (SVF) and Retail Payment Services (RPS) licenses, enabling the firm to build out its technology, operations, and local capabilities ahead of its official market launch.

A Global Financial Platform with 75 Million Users

Founded and led by Chief Executive Officer Nik Storonsky, Revolut currently serves around 75 million users worldwide, making it one of the world's most valuable fintech companies.

In the UAE, customers are expected to gain access to Revolut's global financial platform, allowing them to:

• Hold and manage multiple currencies;
• Make payments using physical and virtual cards;
• Send money domestically and internationally;
• Access integrated digital financial services through a single platform.

UAE Positioned as Regional Expansion Hub

Revolut's ambitions extend beyond the UAE market itself.

The company is also exploring broader expansion across the Middle East and North Africa, including potential entry into Turkey and Morocco, positioning the UAE as a strategic gateway for its regional operations.

Ambareen Musa, who leads Revolut's operations across the Gulf Cooperation Council, said the company looks forward to further deepening its presence in the UAE.

The fintech firm has also begun recruiting local talent, including a Head of Growth for the country, underscoring its commitment to building a long-term presence in the market.

Rapid Global Expansion

The UAE launch comes as Revolut accelerates its international expansion strategy.

The company recently obtained full approval to offer banking services in the United Kingdom, launched operations in Mexico, and has applied for a banking charter in the United States.

Revolut is also reportedly considering a new share sale that could value the company at approximately $115 billion, further cementing its status among the world's largest private fintech companies.

UAE Strengthens Its Position as a Fintech Destination

Revolut's entry into the UAE highlights the country's increasing attractiveness to global fintech firms.

Over recent years, the UAE has attracted a growing number of payment companies, digital banks, and virtual asset businesses, supported by a sophisticated regulatory framework, advanced digital infrastructure, and a strategic location connecting Asia, Europe, and Africa.

EcoPulse24 Analysis

The significance of this development extends far beyond the launch of another fintech app.

When a company serving 75 million users worldwide chooses the UAE as a launchpad for broader regional expansion, it signals increasing confidence in the country's regulatory environment and digital economy.

Revolut's arrival is also likely to intensify competition in digital payments, cross-border money transfers, and multi-currency financial services across the UAE.

For the UAE, attracting global fintech leaders such as Revolut reinforces its evolution from a regional financial center into one of the world's emerging hubs for financial innovation and digital economy development.

FAQs

What is Revolut?

Revolut is a British financial technology (fintech) company founded in London in 2015 by Nik Storonsky and Vlad Yatsenko. The company initially started as a low-cost foreign exchange and money transfer app before evolving into one of the world's largest digital financial platforms.

Today, Revolut serves approximately 75 million customers globally, offering a broad range of financial services through a single mobile application, including:

• Multi-currency accounts and foreign exchange services;

• Domestic and international money transfers;

• Physical and virtual payment cards;

• Budgeting, spending analytics, and savings features;

• Investment products, including stocks and commodities;

• Cryptocurrency services in certain markets;

• Banking and financial solutions for both individuals and businesses.

Revolut operates through several regulated entities across the United Kingdom and Europe. Its various subsidiaries are authorized and supervised by regulators including the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the United Kingdom to provide banking, payment, investment, and digital asset services.

Over the past decade, the company has expanded rapidly to become one of the world's most valuable privately held fintech firms and is reportedly considering a new share sale that could value the company at around $115 billion.

Built around the concept of a financial super app, Revolut has emerged as one of the leading companies driving the global transition toward digital banking and smartphone-based financial services.

Revolut at a Glance