Revolut, the UK-born digital bank known for fast international money transfers and modern financial tools, is entering the UAE market. The company received in-principle approval from the Central Bank of the UAE for its stored value and retail payment services, clearing the way for a regional launch.
Founded in 2015, Revolut has expanded from currency exchange to offer banking and savings accounts, stock and cryptocurrency investments, and international transfers. In the UAE, it will provide a full suite of these services to give residents more control, flexibility, and transparency over their finances.
The launch date of Revolut in UAE has not been confirmed, but the company is actively recruiting across operations, marketing, business development, and recruitment.
The UAE banking sector continues to evolve, with recent changes aimed at improving security and customer experience. Since July 25, banks in the country have stopped sending one-time passwords via SMS and email.
