Revolut has taken a step toward entering the UnitedArab Emirates after the Central Bank granted in-principle approval for itsStored Value Facilities and Retail Payment Services licenses. The approval positions the UK-based financial app tointroduce its services to retail customers in the Emirates.Entry into a Key Middle East MarketThe UAE is a core target for Revolut, as the country combines a rapidly digitizing economy with a supportive regulatory framework. Once operations launch, the company expects demand for new payment solutions to drive adoption.“Receiving these in-principle approvals from theCentral Bank of the UAE is a pivotal step for Revolut in the region,” saidAmbareen Musa, CEO of GCC at Revolut. “Our goal is to empower individuals herewith cutting-edge financial tools that offer transparency, flexibility, andcontrol, addressing key pain points in the current financial landscape.”Musa, who founded the Middle East financial comparisonplatform Souqalmal.com, joined Revolut to oversee its Gulf operations. Herexperience in financial services and fintech is central to the company’s plansto expand in the UAE.Revolut also plans to hire staff locally in the comingmonths. Its remote-first model allows the firm to tap a broader pool of talentacross the region while offering flexible work arrangements.Expanding Global FootprintThe UAE approval adds to Revolut’s presence beyondEurope and the UK. The company has launched in markets such as Australia,Brazil, Mexico, Japan, Singapore, the US, and India. Its long-term goal is to rank among the top threefinancial apps in every country it enters. Revolut’s expansion into the UAE marks another step inits strategy to grow across key financial hubs and offer tailored services tolocal users.Expect ongoing updates as this story evolves.This article was written by Jared Kirui at www.financemagnates.com.