Revolut gets UAE Central Bank licences ahead of full launch

Dubai: Revolut has received Stored Value Facilities and Retail Payment Services licences from the Central Bank of the UAE, clearing a major regulatory step before the global fintech launches its local product offering.

The approval follows in-principle approval granted by the Central Bank in September 2025 and marks the completion of Revolut’s regulatory licensing process in the UAE.

Revolut, which has more than 75 million customers worldwide, said the licences are a key milestone in its expansion across the UAE and the wider Middle East.

Once live, the company will offer customers in the UAE access to its global financial platform, enabling them to hold and manage multiple currencies, make payments with physical and virtual cards, and send money locally and internationally through a single app.

The licences move Revolut closer to offering services designed for the UAE’s large international population, where residents often manage money across different currencies, countries and banking systems.

The company said its focus will now shift to building and preparing its local product offering ahead of a full-scale launch.

Revolut is also investing in technology, operations and local capabilities to ensure its UAE product meets regulatory requirements and fits the needs of customers in the market.

"The UAE's position as a global hub for financial services innovation is built on the strength of our regulatory environment and the confidence international companies continue to place in our long-term vision," said Mohammad Abdulrahman Alhawi, Undersecretary, UAE Ministry of Investment. "Revolut's licensing approval by the Central Bank of the UAE adds to the depth of that ecosystem and reflects the growing international presence that contributes to the knowledge-based economy the UAE continues to build."

Since receiving in-principle approval last year, Revolut has expanded its local team and invested in infrastructure, governance and compliance frameworks to support long-term growth in the country.

"We see tremendous opportunity to contribute to the country's digital economy by providing consumers with more choice and greater control over how they manage their money. We look forward to deepening our presence in the UAE and bringing more people access to the secure, intuitive and globally connected financial services that Revolut is known for," said Ambareen Musa, GCC CEO at Revolut.

The UAE approval gives Revolut a stronger regulatory base in the Middle East as competition grows across digital banking, money transfers, cards and app-based financial services.

The company has not yet announced a full launch date, but the licences allow it to move closer to offering multi-currency accounts, card payments and local and international transfers to customers in the country.