Revolut Gains Two UAE Licenses to Boost Regional Expansion
Revolut has received two key licenses from the Central Bank of the United Arab Emirates (CBUAE), marking an important step in its growth strategy within the country. The approvals include a Stored Value Facilities (SVF) license and a Retail Payment Services (Category II) license. Moreover, the achievement completes the regulatory licensing process that began with in-principle approval in September 2025.
The licenses strengthen Revolut’s position in the UAE market while also supporting its broader expansion plans across the Middle East. Since receiving initial approval, the company has expanded its local team and invested in infrastructure, operational capabilities, and governance frameworks to support long-term growth.
Officials Highlight UAE’s Financial Innovation Ecosystem
HE Mohammad Abdulrahman Alhawi, Undersecretary of the UAE Ministry of Investment, said:
“The UAE’s position as a global hub for financial services innovation is built on the strength of our regulatory environment and the confidence international companies continue to place in our long-term vision. Revolut’s licensing approval by the Central Bank of the UAE adds to the depth of that ecosystem and reflects the growing international presence that contributes to the knowledge-based economy the UAE continues to build.”
Ambareen Musa, GCC CEO at Revolut, said that, “Receiving our licenses from the Central Bank of the UAE is a pivotal moment for Revolut and reflects our commitment to operating to the highest regulatory standards. UAE is one of the most forward-looking financial markets globally, with a strong vision for innovation and financial inclusion.”
“We see a tremendous opportunity to contribute to the country’s digital economy by providing consumers with more choice and greater control over how they manage their money. We look forward to deepening our presence in the UAE and bringing more people access to the secure, intuitive, and globally connected financial services that Revolut is known for,” Musa added.
Focus Shifts to Product Launch Preparation
Following the licensing approvals, Revolut will focus on developing and preparing its local product offering ahead of a full-scale launch. At the same time, the company continues to invest in technology, operations, and local capabilities to deliver services tailored to UAE customers while maintaining regulatory compliance.
Once launched, the platform will allow users to hold and manage multiple currencies through a single app. Additionally, customers will be able to make payments using physical and virtual cards and transfer money both locally and internationally. These features aim to support the UAE’s highly international population by simplifying financial management across countries, currencies, and payment systems.
