UK-based financial technology company and neobank Revolut has been granted a cryptocurrency services license in Gibraltar, which the firm intends to use to expand its digital asset offerings into international markets beyond the UK and the European Economic Area.
According to a Monday announcement, the Gibraltar Financial Services Commission (GFSC) awarded a Distributed Ledger Technology (DLT) Provider license to Revolut Global Digital Assets Limited, a newly established subsidiary.
A Revolut spokesperson stated that the license will enable the company to provide crypto services in additional international markets, though specific launch timelines and target countries have not yet been disclosed.
Currently, Revolut delivers cryptocurrency services through Revolut Ltd in the UK and through Revolut Digital Assets Europe Ltd across the European Economic Area, where operations are subject to the European Union’s Markets in Crypto-Assets Regulation (MiCA).
Revolut reports serving more than 80 million retail customers worldwide, which includes approximately 16 million cryptocurrency users.
The newly secured Gibraltar license follows other recent regulatory developments for the fintech firm, including in-principle approval to offer crypto services in Dubai in July and a preliminary conditional approval from US regulators in September to establish a national bank providing digital asset custody and crypto-related payment services.
