Fintech Revolut Eyes Expansion in Gulf With License Application

Revolut Ltd. is seeking licenses to start operating in the Middle East as the London fintech hunts for growth beyond its home market.

The firm has submitted applications to the Central Bank of the United Arab Emirates to become an electronic-money institution and offer remittances in the country, according to people familiar with the matter. The goal, the people said, is to eventually apply for a full banking license, similar to the one it recently received from regulators in the UK after years of work.

A spokesperson for Revolut declined to comment, while a representative for the UAE’s central ...