Revolut gets VARA in-principle approval for UAE crypto
Analysis based on 13 articles · First reported Jul 15, 2026 · Last updated Jul 15, 2026
The approval signals Revolut's continued expansion into regulated crypto markets, potentially increasing its customer base and revenue from crypto services. It also highlights the UAE's growing role as a hub for digital asset regulation, which may attract more fintech firms to the region.
Revolut has secured in-principle approval from Pakistan — Drug Regulatory Authority of Pakistan (VARA) to offer broker-dealer, management and investment, and exchange services in the UAE. This approval, which covers Revolut's Virtual Assets Service Provider (VASP) Licence, is a milestone in the company's expansion into the UAE market. Revolut intends to deliver these services through its retail app and its standalone exchange, Revolut, once final regulatory approvals are obtained. The VASP approval follows a separate authorization from the Central Bank of the UAE for its payments activities earlier in 2026. Revolut already operates crypto services in the UK and European Economic Area, with over 16 million crypto customers globally. The company is also adjusting its European operations under MiCA, planning to delist Tether's USDT from eligible accounts. Additionally, Revolut is pursuing a US banking charter and has received a UK banking license in March 2026.
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