UK fintech firm Revolut has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority, according to The National. The approval clears a regulatory step for the company to prepare virtual asset services in the United Arab Emirates. The scope covers broker-dealer activity, asset management and investment, and exchange services. Revolut said the approval lays the groundwork for launching virtual asset offerings under a regulated framework. The development marks an advance in the company’s effort to enter the UAE’s regulated crypto market, based on the details cited in the report.
UK fintech company Revolut has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority to provide cryptocurrency-related services in the United Arab Emirates, according to The National.
The approved scope includes broker-dealer services, asset management and investment, as well as exchange business. Revolut said the approval lays the foundation for rolling out virtual asset services under a regulated framework.
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