Revolut Gets VARA Approval for UAE Crypto Services Expansion

Revolut has taken another step towards becoming a full-service crypto platform in the Middle East after receiving an in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) for a Virtual Assets Service Provider (VASP) license.

The VASP license covers broker-dealer services, management and investment services, and exchange services for digital assets in the UAE. This is not Revolut's first rodeo in the country, as it secured an in-principle clearance from the Central Bank of the UAE (CBUAE) back in September 2025.

Joseph Khair, Head of Revolut Digital Assets FZE in the UAE, emphasized that this approval is groundwork for operating within VARA's regulated framework. He noted that it aligns with the authority's goals of fostering a transparent and secure virtual assets ecosystem.

The company plans to integrate UAE crypto services into its retail app as well as Revolut X, its standalone exchange. With over 75 million customers globally and more than 16 million already engaging with cryptocurrency through the platform, Revolut is poised to expand its crypto offerings in the region.