What: Revolut is expanding into the UAE after receiving regulatory clearance, aiming to offer cards, accounts, and cross-border payment services to a digitally savvy market.

Why it is important: Revolut’s move highlights the Gulf’s emergence as a key growth market for digital banking, driven by regulatory openness and rapid consumer adoption.

Revolut’s planned launch in the UAE marks a significant step in its global expansion strategy, targeting one of the world’s most digitally advanced and affluent markets. With initial regulatory approval from the UAE Central Bank, Revolut is poised to offer a suite of digital banking services, including cards, accounts, and international transfers, to a population that is both highly metropolitan and predominantly expatriate. The UAE’s fintech market is set to nearly double in size by 2029, reflecting strong consumer demand for innovative financial solutions and a regulatory environment that encourages experimentation and digital adoption. While Revolut faces competition from established local players, its focus on expatriate needs and remittance services positions it well for rapid growth. The company’s success in the UAE could serve as a blueprint for further expansion into the Gulf, particularly Saudi Arabia, as global fintechs increasingly look to the region for new opportunities in retail finance.

IADS Notes: Revolut’s UAE entry comes as the Gulf accelerates digital transformation and regulatory support for fintech, with 72% revenue growth and £1 trillion in processed transactions reported in May 2025. The region’s e-commerce and luxury markets are also expanding, and Revolut’s integrated financial services model is now seen as a template for further Gulf growth.

Can Revolut take on the Gulf region?