TechFlow News, July 16, according to Cointelegraph, UK fintech company Revolut has received approval in principle from the UAE Virtual Assets Regulatory Authority (VARA) to provide crypto services such as broker-dealer, management and investment, and exchange services locally.
The approval enables UAE users to buy, sell, and hold digital assets through the Revolut app and Revolut X exchange. Currently, VARA lists a total of 51 companies approved to provide crypto services in the UAE, of which 22 have received approval in principle. Revolut obtained a UK banking license in March this year and is currently still pursuing market access applications in the United States and Peru.
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