Revolut secures UAE crypto licence and targets US bank launch by 2027

Dubai’s Virtual Assets Regulatory Authority granted Revolut in‑principle approval to operate cryptocurrency services in the United Arab Emirates. The neobank now must satisfy remaining conditions to obtain a full virtual asset service provider (VASP) licence, which is expected to be completed by August or September.

In the United States, Revolut plans to launch its own bank in 2027 after applying for a US banking licence earlier this year. The firm aims to offer FDIC‑insured deposits, loans, credit cards and cryptocurrency access, backed by a $500 million investment in its US expansion and a new US chief executive.

Both moves are part of Revolut’s broader strategy to extend its regulated financial‑services platform beyond payments and cards into crypto trading and full‑service banking across new markets.