Revolut Just Unlocked the UAE (and It’s Big)
Hey Digital Banking Fanatic!
Revolut just checked off another passport stamp — this time in the UAE 🇦🇪.
The neobank snagged in-principle approval for a payments licence from the Central Bank, unlocking one of the hottest fintech markets on the map. Why it matters? Think sky-high digital adoption, a forward-thinking regulator, and a region that loves shiny new financial toys.
Revolut says it’ll ramp up hiring and bring its “cutting-edge financial tools” to the desert. Scroll down to read more about this, and more digital banking news👇
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NEWS
🇦🇪 Revolut secures in-principle approval for UAE payments licence, accelerating expansion plans in the region. By working in close collaboration with the Central Bank of the UAE, Revolut is poised to deliver exceptional results for customers, ushering in a new era of financial flexibility. Additionally, Revolut will launch new accounts in Spain to attract children and teenagers. It will launch a deposit for young people between 6 and 15 years old and will give financial autonomy to those aged 16-17.
🇦🇪 Binance exec Reem Khayat moves to Revolut to head Crypto product marketing. Reem had been with Binance for the past three years, serving as Marketing Lead MENA, heading marketing for the Middle East and North Africa while overseeing strategy, operations, and growth at Binance, out of the company’s offices in Dubai.
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🇺🇸 Green Dot adds Stripe as network partner. Powered by Green Dot’s platform, Stripe Treasury will allow users to quickly and conveniently add cash to their accounts at any of Green Dot’s more than 90,000 money processing locations nationwide, with additional enhancements and capabilities planned for the future.
🇺🇸 PNC agrees to acquire Colorado's FirstBank in $4.1bn deal. The transaction has been approved by the boards of directors of both PNC and FirstBank Holding Company, consisting of around 13.9 million shares of PNC common stock, and a cash payment of $1.2 billion.
🇬🇧 Ozone API and Plumery partner to advance digital banking with open banking integration. This integration empowers banks and financial institutions to rapidly deploy customer-centric mobile and web applications that seamlessly incorporate open banking capabilities without compromising on compliance or security.
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