Digital bank Revolut has received formal authorization as a Distributed Ledger Technology (DLT) provider in Gibraltar, marking a notable step in its strategy to expand cryptocurrency offerings beyond established UK and European markets.
The permission, issued by the Gibraltar Financial Services Commission (GFSC) to the company’s newly formed subsidiary Revolut Global Digital Assets Limited (RGDAL), covers regulated activities involving virtual assets.
These include transmitting and executing orders, providing custody services, and offering staking services.
The development positions RGDAL to underpin Revolut’s crypto services in key international expansion territories.
This builds on the firm’s existing framework, under which cryptocurrency activities are already delivered in the United Kingdom through Revolut Ltd and across the European Economic Area via Revolut Digital Assets Europe Ltd under the Markets in Crypto-Assets (MiCA) regime.
Gibraltar’s longstanding, purpose-built regulatory approach to distributed ledger technology—among the earliest such frameworks worldwide—provides a structured, rigorous supervisory setting that supports further innovation in digital assets.
With a customer base of more than 80 million retail users worldwide, including more than 16 million who use cryptocurrency services, Revolut views the Gibraltar license as a key part of its broader global crypto plans.
Emil Urmanshin, General Manager for Crypto & New Bets at Revolut, emphasized that securing the DLT authorization demonstrates the company’s dedication to the highest levels of regulatory compliance.
He noted that Gibraltar’s established oversight in the digital asset field provides a strong foundation to support the group’s worldwide operational structure as it develops reliable, secure crypto products for customers outside its core markets.
Gibraltar’s Chief Minister, the Honorable Fabian Picardo KC MP, welcomed the move, observing that the territory has long set a high bar for rigorous regulation of DLT businesses through strong standards and robust supervision.
He welcomed Revolut into the local financial ecosystem via RGDAL and described the decision to base further crypto expansion there as evidence of Gibraltar’s standing as a trusted center for digital asset innovation.
In parallel, Gibraltar authorities confirmed that Revolut has fully resumed onboarding local residents to its electronic money and payments application, following collaboration with the Minister for Trade and Industry, Nigel Feetham KC MP, and the GFSC.
New customers in the territory can again open accounts and access the group’s services.
Feetham described both the resumption of onboarding and the DLT permission as the result of constructive engagement among the company, the government, and the regulator.
He stressed the aim of enabling residents to benefit from services offered by major international fintechs while preserving the high standards that sustain Gibraltar’s reputation.
He added that the permission represents a meaningful step for the territory’s virtual asset sector and underscores its appeal to firms seeking regulatory clarity for growth.
The government expects to issue three DLT permissions this week, reflecting sustained interest from international businesses. Specific details on the markets and service rollouts that RGDAL will support are expected to be disclosed in due course.
