Revolut, the UK-based fintech company and neobank, has secured a cryptocurrency services license in Gibraltar, marking a significant step in its global expansion plans. The Gibraltar Financial Services Commission (GFSC) granted a Distributed Ledger Technology (DLT) Provider license to Revolut Global Digital Assets Limited, a newly established subsidiary. This license will enable Revolut to offer crypto services in additional international markets beyond the UK and European Economic Area, although specific countries and launch timelines have not been disclosed.
Revolut currently provides cryptocurrency services through Revolut Ltd in the UK and Revolut Digital Assets Europe Ltd across the European Economic Area, where its operations fall under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The fintech reports more than 80 million retail customers worldwide, including about 16 million cryptocurrency users.
The Gibraltar license follows recent regulatory approvals for Revolut, including in-principle approval to offer crypto services in Dubai in July and preliminary conditional approval from US regulators in September. The US approval allows Revolut to establish a national bank offering digital asset custody and crypto-related payment services.