Revolut Wins Preliminary Nod from Dubai Regulator to Offer Crypto Services
The British fintech has secured in-principle approval from Dubai's VARA for crypto services in the UAE, pending final clearance.
AfroEuropa Newsroom
AfroEuropa desk
Revolut has obtained in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency services in the United Arab Emirates, according to BitKE.
The preliminary authorisation spans broker-dealer, management and investment, and exchange services. Revolut still needs to secure final regulatory clearance before it can launch the offerings. The company said that eligible customers in the UAE will eventually be able to buy, sell, and hold cryptocurrencies through its main application and through its standalone crypto exchange, Revolut X, within a regulated framework.
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