Revolut receives in-principle approval from Dubai's VARA regulator to offer crypto trading through its app and Revolut X platform.
Regulation & Gov ·
Revolut has received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency trading services through its mobile app and Revolut X platform. The approval represents a regulatory milestone for the fintech company seeking to operate crypto services in the UAE.
VARA operates as Dubai's dedicated regulator for virtual asset activity in mainland Dubai, operating separately from the common-law financial free zones governed by the Abu Dhabi Global Market and Dubai International Financial Centre. The layered regulatory architecture allows VARA to focus on consumer-facing platforms and high-volume digital asset services. In-principle approval indicates conditional acceptance subject to final compliance and operational requirements.
The specific conditions attached to Revolut's approval, the timeline for converting in-principle status to full authorization, and any restrictions on asset classes or user categories remain unspecified. Whether this approval extends to services beyond spot trading—such as derivatives, staking, or lending—has not been detailed in available materials.