Revolut secures Gibraltar crypto licence to support international expansion plans

Global fintech Revolut has secured a Distributed Ledger Technology provider licence from the Gibraltar Financial Services Commission for a newly formed entity, the company said in a statement shared with The Block on Monday. 

The new entity, Revolut Global Digital Assets Limited, will support the company's international crypto operations, it said.

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

Revolut already offers crypto services in the UK through Revolut Ltd and across the European Economic Area through Revolut Digital Assets Europe Ltd, which operates under the EU’s MiCA rules.

The company has more than 80 million retail customers worldwide and over 16 million crypto users, per the statement. 

Revolut has doubled down on expansion this year. In March, the company received approval to launch Revolut Bank UK after British regulators lifted restrictions on its banking license. Last month, it secured conditional approval from the U.S. Office of the Comptroller of the Currency as it pursued a U.S. banking charter.

The company also 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 later this year.

Revolut did not say which markets its Gibraltar entity will serve or when. It said details on target regions and rollouts would come in due course.