[Revolut Receives In-Principle Approval from UAE Central Bank, Set to Launch Digital Wallet and Payment Services Locally] According to a report by Jinse Finance, London-based fintech company Revolut has crossed its first regulatory hurdle in the UAE, obtaining in-principle approval from the country's central bank to apply for digital wallet and payment services. This approval pertains to the Stored Value Facility (SVF) license and the Category II Retail Payment Services license. Once it secures the formal licenses, Revolut will be able to issue digital wallets, store customer balances, process payments for merchants, and connect to the UAE's new real-time payment infrastructure. The central bank emphasized that in-principle approval is not a formal license, and Revolut must meet additional conditions before it can officially operate.