# Revolut receives UAE approval for crypto services Dubai regulator grants in-principle approval for virtual asset services - **Source:** [Cointelegraph.com News](https://brifing.si/source/2e81e982-0137-4db0-8ac2-351f37085775) - **Published:** 2026-07-15 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/be736bb3-aab7-4401-b7f5-4b8280f250e8 ## Revolut's UAE Expansion London-based fintech firm Revolut has received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer crypto asset services in the UAE. This approval paves the way for the company to provide broker-dealer, management and investment, and exchange services. ## Service Scope UAE users will be able to buy, sell and hold digital assets through Revolut's app and Revolut X exchange. The company describes this step as 'laying the foundation to introduce trusted virtual asset services in a regulated environment'. ## Regulatory Process The VARA approval follows Revolut obtaining a UK banking license in March. The company also has pending applications for a US banking charter and licensing in Peru, as part of its global expansion strategy. ## Other Players in UAE Market VARA has currently licensed 51 companies to offer crypto services in the UAE, while granting in-principle approval to 22 others. In May, crypto exchange Kraken's parent company Payward received similar preliminary approval. ## USDT Delisting in Europe Revolut will delist Tether USDt (USDT) stablecoin from the European Economic Area and Switzerland starting August. This decision follows risk assessments under the EU's MiCA regulatory framework. ## Regulatory Trends in Crypto Revolut's UAE approval reflects the growing regulatory trend in the global crypto sector. Companies adapting to legal frameworks while expanding represents a crucial part of the industry's maturation process. ## Sources covering this story - https://cointelegraph.com/news/revolut-approval-uae-crypto-services?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._