Revolut Gets Gibraltar Crypto License for Global Expansion
Revolut has received a Gibraltar DLT provider license for a new subsidiary, supporting plans to offer cryptocurrency services in markets beyond the United Kingdom and European Economic Area.
The Gibraltar Financial Services Commission has granted a Distributed Ledger Technology provider license to Revolut Global Digital Assets Limited, the fintech’s newly established subsidiary, according to an announcement.
Revolut plans to use the license to offer cryptocurrency services in additional international markets. The company has not identified the countries involved or provided launch dates.
The authorization covers crypto-related services provided through the Gibraltar-registered subsidiary. Revolut currently offers cryptocurrency services through Revolut Ltd in the United Kingdom and Revolut Digital Assets Europe Ltd in the European Economic Area.
Revolut’s European operations are subject to the European Union’s Markets in Crypto-Assets Regulation, known as MiCA.
The company reports more than 80 million retail customers worldwide, including about 16 million cryptocurrency users.
The Gibraltar license follows Revolut’s in-principle approval in July to offer crypto services in Dubai. In September, U.S. regulators granted preliminary conditional approval for Revolut to establish a national bank that would provide digital asset custody and crypto-related payment services.
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