British consumer Revolut has received Stored Value Facilities and Retail Payment Services Category II licenses from the UAE Central Bank (CBUAE), completing a regulatory approval process that began in September 2025. This will allow the company to launch a full-fledged financial platform in the country, adapted to local requirements. Customers will be able to manage multi-currency accounts, use physical and virtual cards, and make domestic and international transfers through a single app.
According to GCC CEO Revolut Ambarin Musa, obtaining licenses was a "turning point" for the company’s expansion in the Middle East. Entry into the UAE market, where there is a huge international population, is seen as a strategic step to increase competition in the segment of digital payments and cross-border transfers. The exact launch date of the service has not been announced yet: Revolut is now focusing on preparing a local product offer and operating infrastructure. Globally, unanak already serves more than 75 million customers.