TechFlow News, July 15: According to The National, UK fintech company Revolut has received approval in principle from the Dubai Virtual Assets Regulatory Authority to provide cryptocurrency-related services in the UAE, with business scope including brokerage and proprietary trading, asset management and investment, and exchange services. Revolut stated that this approval lays the foundation for launching virtual asset services under a regulated framework.
Previously, the company obtained a stored value facility and Category 2 Retail Payment Services License from the Central Bank of the UAE in June. It subsequently plans to provide digital asset buying, selling, and holding services to eligible users through the retail app and Revolut X. The official launch date has not yet been announced.
