London-based fintech giant Revolut is preparing to launch in the UAE after securing initial approval from the Central Bank of the UAE.
The approval allows Revolut, which serves more than 60 million customers globally, to roll out a wide range of digital banking services tailored to UAE retail customers. The company said it will also expand its hiring efforts in the country in the coming months.
The UAE’s fast-growing economy, high digital adoption, and status as a global financial hub make it a prime market for Revolut. The launch is expected to provide residents with advanced solutions such as multi-currency accounts, international money transfers, and flexible digital payment tools.
Ambareen Musa, CEO of Revolut GCC, described the move as a pivotal step in the company’s global growth strategy and said, “Our goal is to empower individuals here with cutting-edge financial tools that offer transparency, flexibility, and control, addressing key pain points in the current financial landscape. We are committed to setting a new standard for financial services worldwide, and eagerly anticipate bringing Revolut to the dynamic UAE market".
Revolut is also expanding rapidly in markets such as the US, India, Singapore, and Australia.
While no official launch date has been confirmed, the initial approval for operations in the UAE marks a major milestone in giving residents more choice and flexibility in digital banking.