Woofun AI reports that British fintech firm Revolut has obtained in-principle approval from the Dubai Virtual Assets Regulatory Authority (VARA) to operate cryptocurrency-related businesses within the United Arab Emirates. The regulatory clearance encompasses brokerage and dealing activities, asset management and investment services, as well as direct cryptocurrency trading operations.

Revolut indicated that UAE-based users will subsequently be able to purchase, sell, and hold digital assets through both the Revolut mobile application and the Revolut X trading platform.