Global fintech giant Revolut has officially secured its Stored Value Facilities licence and Category II Retail Payment Services licence from the Central Bank of the United Arab Emirates, marking a critical step in its Middle East growth. The approval, which follows an in-principle green light granted in September 2025, completes the company’s regulatory licensing journey in the Gulf state. With a customer base exceeding 75 million globally, the London-headquartered firm now aims to roll out a locally customised digital financial platform that gives users greater control over their money.
A Pivotal Regulatory Achievement
Ambareen Musa, GCC Chief Executive at Revolut, described the dual licence award as "a pivotal moment" for the company and a reflection of its commitment to the highest regulatory standards. She highlighted that the UAE is one of the world’s most forward-looking financial markets, with a strong vision for innovation and financial inclusion. Revolut intends to harness this momentum to give consumers more choice and seamless tools to manage their finances across borders.
Strengthening UAE’s Financial Ecosystem
H.E. Mohammad Abdulrahman Alhawi, Undersecretary of the UAE Ministry of Investment, stated that Revolut’s licensing adds significant depth to the country’s financial ecosystem and reinforces its reputation as a global hub for financial services innovation. He stressed that the confidence international companies continue to place in the UAE’s regulatory environment is a cornerstone of its long-term vision. The licences further cement the UAE’s transition into a knowledge-based economy driven by digital transformation.
Operational Foundations in Place
Since receiving the initial nod in September 2025, Revolut has expanded its UAE-based team and accelerated infrastructure investments to meet the CBUAE’s exacting compliance requirements. The fintech has focused on building localised governance, technology, and operational foundations that will underpin its long-term growth in the region. This careful groundwork is intended to deliver a polished and secure user experience immediately upon launch, catering to the nation’s digitally savvy population.
A Product Built for a Global Population
Once operational, the Revolut app will allow UAE residents to hold and exchange multiple currencies, issue physical and virtual debit cards, and execute both domestic and international money transfers from a single interface. These features are tailored to serve the country’s highly international population, who frequently manage finances across different jurisdictions. Revolut aims to replace fragmented banking relationships with a unified, transparent, and low-cost alternative that empowers users with real-time spending insights.
Supporting the UAE’s Digital Economy
Revolut’s market entry is also emblematic of the UAE’s broader strategy to position itself as a global centre for fintech innovation. Regulators have crafted a licensing regime that encourages disruptive technology while maintaining robust consumer safeguards, attracting firms that can contribute to the national digital agenda. As more international players establish a presence, residents stand to benefit from increased competition, lower costs, and a wider array of cutting-edge financial tools.
Revolut’s formal licensing in the UAE heralds a new chapter in Middle Eastern financial services, bringing a globally trusted platform to a market renowned for its appetite for digital innovation. By focusing on local needs while leveraging international infrastructure, the company is poised to redefine how residents and expatriates manage their daily finances. With a full rollout on the horizon, Revolut is set to deliver a seamless, secure, and borderless banking experience that aligns perfectly with the UAE’s vision of a smart, inclusive economy.