Revolut has entered the UAE—its 75 million+ user base plus expansion across the Middle East, and the move to globalize digital banking is really a big one.

According to Bloomberg, digital bank Revolut will launch services in the United Arab Emirates, following approval for its application for a license for deposit facilities and retail payment services from the UAE Central Bank. Revolut stated that the company will first build technology, operations, and local capabilities before officially launching. UAE users are expected to be able to use Revolut's global financial platform for multi-currency holding and management, physical and virtual card payments, and local and international remittances through the app. Revolut also plans to further expand into the Middle East and North Africa, including entering Turkey and Morocco. The company currently has approximately 75 million global users, recently received full approval to offer comprehensive banking services in the UK, and has launched services in Mexico.