Revolut obtains UAE central bank license, enters Middle East market and prepares for localized launch

Odaily reports that crypto-friendly digital bank Revolut has obtained relevant license approvals from the Central Bank of the United Arab Emirates, officially entering the UAE market as a springboard for its business expansion across the Middle East. The approved licenses include Stored Value Facilities and retail payment service permits. Revolut stated that it will prioritize completing local technical system development, operational framework setup, and compliance capability deployment before the official launch. (Bloomberg)