Revolut Expands into UAE, Delists USDT in Europe Amid Regulatory Shift

Revolut has received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer crypto services in the UAE. This approval covers broker-dealer, management and investment, and exchange services.

Users will be able to buy, sell, and hold digital assets via the Revolut app and Revolut X exchange. This follows an existing payment services approval from the Central Bank of the UAE, giving Revolut a broader foothold in the country's financial system.

Revolut is also planning to delist Tether's USDT stablecoin in Europe starting August due to MiCA regulations. The company confirmed this decision to Cointelegraph last week, citing risk considerations under the new regulatory framework as the reason for the move.