Revolut has received licenses to fully launch its platform in the UAE
British fintech giant Revolut, which has over 75 million customers worldwide, has officially completed the licensing process in the United Arab Emirates.
The Central Bank of the UAE (CBUAE) has granted the company two key licenses: a Stored Value Facilities (SVF) license to manage e-wallets and prepaid accounts, and a Retail Payment Services (Category II) for providing retail payment services and money transfers.
The final documents were received after the regulator granted preliminary approval in September 2025.
These licenses will allow Revolut to launch its core cross-border product in the UAE market. Users in the UAE will be able to open multi-currency accounts, make instant local and international transfers, and use physical and virtual payment cards through a single mobile app. According to Ambarin Musa, Revolut’s CEO for the GCC countries, the UAE market is one of the most promising and innovative in the global digital economy. The company is currently actively investing in adapting its technical infrastructure, expanding its local team in the region, and aligning its operational compliance processes with the strict requirements of the Arab financial regulator to ensure a large-scale commercial launch.
This was reported by Bloomberg.
Prior to this, Revolut applied for a banking license in the U.S. and appointed a new CEO.
The European Central Bank imposed strict restrictions on Revolut in July 2025 due to concerns over the overly rapid launch of products without analyzing their impact on capital. The regulator imposed a ban on launching new products in the European market, as well as a global moratorium on customer acquisition and mergers and acquisitions while the company prepares for an IPO valued at $75 billion.
Earlier, the British fintech company Revolut took a significant step toward global expansion by obtaining its first license in Latin America. The company’s services became available to residents of Mexico, as reported by Reuters. This is significant because it marks Revolut’s first foray beyond the European banking sector, targeting fast-growing markets.
Revolut has also applied for a banking license in Peru, a country with a population of about 34 million, where approximately 45% of the adult population still does not use traditional banking services.
