Revolut has obtained Stored Value Facilities and Retail Payment Services (Category II) licences from the Central Bank of the United Arab Emirates.
The approval represents the completion of Revolut's regulatory licensing process in the country, following in-principle approval granted in September 2025. The company can now establish formal operations in the UAE and prepare for a full-scale launch.
The Central Bank of the UAE granted both licences in June 2026, marking the conclusion of a nine-month regulatory cycle since the in-principle approval. During this period, Revolut has expanded its local team and invested in governance frameworks and operational infrastructure required to support regulated financial services in the UAE.
The UAE has positioned itself as a regional hub for fintech adoption and financial innovation. Revolut's licensing approval reflects the Central Bank's emphasis on supporting international payment service providers that meet compliance standards whilst contributing to the country's digital economy agenda. The regulator has pursued selective approval of foreign fintech operators, balancing innovation with consumer protection.
Service offering and operational plans
According to the official press release, once operational, Revolut will provide UAE customers access to multi-currency accounts, physical and virtual cards, and local and international payment capabilities through its mobile platform. The service is designed to address the UAE's demographics, which include a significant expatriate population managing finances across multiple currencies and jurisdictions.
The company's offering will compete within the broader UAE fintech ecosystem, which includes established players and recent market entrants. Revolut's architecture enables customers to hold and manage multiple currencies and execute cross-border payments through a single application.
The fintech has stated that its immediate focus is on developing a localised product offering tailored to UAE customers' needs whilst maintaining compliance with Central Bank requirements. This preparation phase typically involves final technology integration, regulatory reporting system configuration, and localisation of user interfaces and customer support.
Growth strategy in the region
Revolut's UAE approval forms part of a broader Middle East expansion. The company has positioned the region as a strategic growth market, citing the UAE's regulatory environment and the prevalence of international payment needs amongst the population.
The timing of Revolut's UAE entry occurs as the Central Bank continues to refine its regulatory framework for digital payment services. In addition, the regulator has published guidance on compliance requirements for stored value facilities and retail payment services, creating a defined path for authorisation. Revolut intends to leverage its technology infrastructure, which it has developed across existing markets, to support operations in the UAE.
