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According to The National, UK fintech company Revolut has received principle approval from the Dubai Virtual Asset Regulatory Authority (VARA) to provide brokerage, asset management and investment, and exchange services in the UAE. Joseph Khair, the head of digital assets at Revolut UAE, stated that this approval lays the foundation for Revolut to launch virtual asset services in a regulated environment. Revolut currently serves over 75 million customers worldwide and was granted a stored value facility and Class II retail payment service license by the UAE Central Bank in June of this year. The company plans to launch a virtual asset service in the UAE through retail applications and independent exchange Revolut X, allowing eligible users to buy, sell, and hold digital assets, but has not yet disclosed the official launch time.