Revolut secures Gibraltar DLT license to take crypto services beyond UK and EEA
In brief
- Revolut Global Digital Assets Limited received a DLT Provider license from Gibraltar's GFSC, Revolut said.
- Revolut plans to expand its crypto offerings into markets beyond the UK and EEA.
- Revolut has not announced specific countries or launch timelines.
- Revolut reports more than 80 million retail customers, including about 16 million crypto users.
What the license covers
The Gibraltar Financial Services Commission granted a Distributed Ledger Technology (DLT) Provider license to Revolut Global Digital Assets Limited, according to Revolut's announcement. That's a newly established subsidiary. It isn't one of the entities Revolut already uses to run its crypto business.
Those entities are split by region. Revolut provides crypto services through Revolut Ltd in the UK and through Revolut Digital Assets Europe Ltd across the European Economic Area, where (per Cointelegraph's report) its operations fall under the EU's Markets in Crypto-Assets Regulation (MiCA). The Gibraltar license is meant for markets outside both of those.
The grant details come from the company's own disclosure, as reported by Cointelegraph.
No countries, no dates yet
A Revolut spokesperson told Cointelegraph that the license will allow the company to offer crypto services in additional international markets. Which markets? That's the open question, and the company isn't answering it yet. Specific countries and launch timelines haven't been announced.
Revolut hasn't named a single new market.
The potential reach isn't small. Revolut reports more than 80 million retail customers worldwide, including about 16 million cryptocurrency users, according to its announcement.
A string of regulatory approvals
Gibraltar is the latest in a run of approvals tied to Revolut's crypto ambitions. According to Cointelegraph, the license follows Revolut's in-principle approval to offer crypto services in Dubai in July.
In September, the company received preliminary conditional approval from US regulators to establish a national bank offering digital asset custody and crypto-related payment services, Cointelegraph reported. Both of those were early-stage approvals (in-principle in Dubai, preliminary and conditional in the US), while Gibraltar is a granted license under a named regulator.
For crypto users outside the UK and EEA, the practical takeaway is simple: the license exists, but there's no product or launch date attached to it yet. Revolut hasn't said where the Gibraltar entity will operate first, and it hasn't published a timeline for any rollout.
Frequently asked questions
What crypto license did Revolut receive in Gibraltar?
According to Revolut's Monday announcement, as reported by Cointelegraph, the Gibraltar Financial Services Commission granted a Distributed Ledger Technology (DLT) Provider license to Revolut Global Digital Assets Limited. That's a newly established Revolut subsidiary.
Where will Revolut use its Gibraltar crypto license?
Revolut plans to use the license to expand its digital asset offerings into international markets beyond the UK and the European Economic Area. A spokesperson told Cointelegraph it will allow crypto services in additional markets, but specific countries and launch timelines haven't been announced.
How does Revolut offer crypto in the UK and Europe today?
Revolut provides crypto services through Revolut Ltd in the UK and Revolut Digital Assets Europe Ltd across the European Economic Area. Its EEA operations fall under the EU's Markets in Crypto-Assets Regulation (MiCA).
