Woofun AI reports that Revolut has obtained preliminary approval from the Virtual Assets Regulatory Authority (VARA) in Dubai to offer cryptocurrency services within the UAE. The authorization covers brokerage, asset management, investment, and exchange operations. Joseph Khair, Revolut’s head of digital assets for the UAE, stated that this decision establishes the basis for introducing virtual asset services in a regulated setting. The firm currently serves over 75 million users globally and previously secured licenses for value storage facilities and category two retail payment services from the UAE Central Bank in June. Revolut intends to deploy a wider array of virtual asset services via its retail application and standalone exchange, Revolut X, enabling qualified users to trade and hold digital assets under compliance standards, although no official launch timeline has been disclosed.