Revolut, the UK-based financial technology company and neobank, has secured a Distributed Ledger Technology (DLT) Provider license from the Gibraltar Financial Services Commission (GFSC). The license was granted to Revolut Global Digital Assets Limited, a newly established subsidiary, as announced on Monday. This regulatory approval enables Revolut to expand its cryptocurrency services into international markets beyond its current operations in the United Kingdom and the European Economic Area.
Currently, Revolut provides crypto services through Revolut Ltd in the UK and Revolut Digital Assets Europe Ltd within the EEA, where it operates under the European Union’s Markets in Crypto-Assets Regulation (MiCA). A company spokesperson confirmed that while the new license facilitates broader global expansion, specific target countries and launch timelines have not yet been disclosed. The firm reports serving more than 80 million retail customers worldwide, including approximately 16 million users of its cryptocurrency products.
This development follows recent regulatory milestones for Revolut, including an in-principle approval to offer crypto services in Dubai in July and preliminary conditional approval from US regulators in September to establish a national bank offering digital asset custody and crypto-related payment services.
The acquisition of a DLT license in Gibraltar marks a strategic pivot for Revolut, allowing it to bypass the constraints of MiCA and UK regulations by leveraging a jurisdiction known for its progressive crypto framework. By establishing a dedicated subsidiary, Revolut isolates its digital asset risks from its core banking operations, creating a flexible vehicle for entering diverse international markets without immediate regulatory friction in those regions.
However, the lack of specified launch timelines or target jurisdictions introduces operational uncertainty. While the license provides the legal foundation for expansion, actual market entry depends on local regulatory acceptance in each new territory. Investors and competitors should monitor how quickly Revolut converts this licensing advantage into tangible user growth, particularly given its existing base of 16 million crypto users who may serve as early adopters in new markets.
