UK-based FinTech company Revolut is preparing to launch its digital financial services in the United Arab Emirates, in collaboration with the UAE Central Bank, after receiving in-principle approval to begin operations.
The company stated that it is “working diligently towards a launch in the UAE”, focusing on building its regulatory and technical infrastructure to deliver competitive exchange rates and low transfer fees, particularly for the large expatriate community that represents a major share of the UAE’s remittance market.
Konstantinos Adamos, Group Head of Legal and Non-Executive Director at Revolut Digital Assets, said that the company sees “a significant opportunity in the UAE market given the volume of international remittances and the diversity of users.” He added that Revolut is actively exploring Arabic language support to ensure an inclusive and accessible banking experience for all customers.
Once operational, Revolut will offer payment cards, domestic and cross-border transfers, and multi-currency accounts, in addition to innovative digital solutions in investment, budgeting, and cryptocurrencies.
Revolut’s entry into the UAE is part of its global expansion strategy, as the company recently announced plans to enter 30 new markets and create 10,000 jobs worldwide by 2030, backed by investments of approximately $13 billion. The FinTech giant is currently valued at around $75 billion and serves over 65 million users globally.
Adamos emphasized that Revolut is investing heavily in compliance and anti-financial crime measures, highlighting that the company employs specialized teams and advanced AI technologies to strengthen its security framework and enhance the overall customer experience.
Founded in 2015, Revolut began as a prepaid card provider with zero foreign transaction fees, before evolving into a comprehensive global financial super app that offers a wide range of digital banking services for individuals and businesses alike.
