Revolut has received in-principle approval for two payment licenses in the UAE, marking the latest development in its global expansion plans, Fintech Futures reports.

The approval pertains to Revolut's applications for Stored Value Facilities and Retail Payment Services licenses, which were given the green light by the Central Bank of the UAE this week.

The licenses allow Revolut to store customer funds and provide digital payment solutions to retail customers in the UAE, clearing the path for an entry into what the London-headquartered digital bank describes as a "key market".

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