Revolut Secures Green Light for UAE Expansion from CBUAE

Revolut, the London-based financial super app, has taken a major step toward launching services in the United Arab Emirates after securing in-principle approval from the Central Bank of the UAE (CBUAE) for its Stored Value Facilities and Retail Payment Services (Category II) licences.

The approvals clear the way for Revolut to bring its fast-growing suite of digital banking and payments products to retail customers in the Emirates. With more than 60 million users globally, the company views the UAE as a strategic hub, citing the country’s rapid digital adoption, thriving economy, and status as a financial center connecting East and West.

“The UAE represents an important growth opportunity for us,” said Ambareen Musa, Revolut’s CEO for the GCC. “Our mission is to equip individuals with transparent and flexible financial tools that solve real challenges in their daily lives. This approval marks a turning point in our journey to deliver that vision here.”

Musa, a fintech entrepreneur with nearly two decades of industry experience, is well known for founding Souqalmal.com, a regional financial comparison platform. She has been a vocal advocate for financial literacy and consumer empowerment, values she intends to weave into Revolut’s strategy for the Emirates.

As part of its expansion, Revolut plans to recruit talent across the UAE in the coming months. The company’s remote-first structure enables it to draw from a diverse and skilled workforce across the region, with a focus on inclusion and flexibility.

The UAE launch adds to Revolut’s growing footprint outside Europe and the UK, where it has already established operations in markets including Australia, Brazil, Mexico, Japan, Singapore, India, and the United States. Its ambition is to rank among the top three financial apps in every market it enters.

For Revolut, winning regulatory backing from the CBUAE is not only a gateway to the Emirates but also a critical step in its broader global strategy.

This development highlights the company’s determination to blend localized offerings with its international platform, positioning itself as a digital-first alternative to traditional banking in one of the world’s most dynamic financial landscapes.