Revolut secures Gibraltar crypto license to enter new markets

UK neobank Revolut has secured a crypto services license in Gibraltar, which it plans to use to reach new international markets. The regulator granted the permit to a newly created subsidiary, according to Monday's announcement. Revolut did not name specific countries or launch dates.

What the company received

The Gibraltar Financial Services Commission (GFSC) issued a Distributed Ledger Technology (DLT) Provider license to Revolut Global Digital Assets Limited. It is a separate entity that Revolut set up for this purpose. The license allows it to offer digital asset services built on distributed ledger technology.

A Revolut spokesperson told Cointelegraph the permit is meant for crypto services in additional markets. The spokesperson did not say which jurisdictions are in view. Launch timelines were not announced either.

Where Revolut is starting from

Today the crypto business runs through two legal entities. In the UK, services come from Revolut Ltd. In the European Economic Area, Revolut Digital Assets Europe Ltd operates under the EU's MiCA regulation.

Until now, customers outside those two zones had no dedicated crypto entity. The new company fills that gap. The license looks like a base for global expansion rather than a move into one specific market.

Size of the business

Revolut says it has more than 80 million retail customers worldwide. About 16 million of them use its crypto services. That is roughly one customer in five touching the crypto market through an app where they can buy Bitcoin or Ethereum.

• July: in-principle approval for crypto services in Dubai.
• September: preliminary conditional approval from US regulators to set up a national bank.
• October: DLT Provider license in Gibraltar.

The US bank, if it launches, is meant to offer digital asset custody and crypto-related payments.

What comes next

The company has not disclosed where the new services will start or when. All that is confirmed is that the legal base now exists. The next step, announcements for specific jurisdictions, is something Revolut still has to make separately.