Revolut secures Gibraltar crypto licence to support international expansion plans

Revolut has obtained a Distributed Ledger Technology (DLT) provider licence from the Gibraltar Financial Services Commission, the fintech said on Monday. The authorisation was granted to a newly formed entity, Revolut Global Digital Assets Limited, which the company said will underpin its crypto operations outside its existing licensed hubs.

"Securing our DLT authorization from the GFSC reflects our commitment to operating at the highest standards of regulatory compliance," said Emil Urmashin, Revolut's general manager for crypto and new bets, in a statement.

Revolut already serves crypto customers in the UK through Revolut Ltd and across the European Economic Area via Revolut Digital Assets Europe Ltd, which operates under the EU's Markets in Crypto-Assets (MiCA) regime. The company said it counts more than 80 million retail customers globally, of whom over 16 million use its crypto services.

A wider expansion push

The Gibraltar licence is the latest step in a busy year of regulatory and product expansion for the London-headquartered group. In March, Revolut received approval to launch Revolut Bank UK after British regulators lifted restrictions attached to its banking licence. Last month it secured conditional approval from the U.S. Office of the Comptroller of the Currency as it works toward a U.S. banking charter.

On the product side, Revolut began rolling out its euro-pegged EURR stablecoin to selected customers in Denmark, Poland and Portugal in August, with broader availability across the EEA planned for later this year.

Revolut did not specify which markets the Gibraltar entity will serve or when it will begin operating under the new authorisation. The company said further details on target regions and rollout timelines would be shared in due course.