Revolut Obtains Gibraltar Crypto License to Support Global Expansion

This fintech company, headquartered in the UK, will utilize this authorization to provide crypto services in more international markets, although the specific countries or launch timelines have not yet been disclosed.

British fintech company and digital bank Revolut has obtained a cryptocurrency service license in Gibraltar. The company plans to use this license to expand its digital assets business to international markets outside the UK and the European Economic Area.

According to a announcement released on Monday, the Gibraltar Financial Services Commission ( GFSC ) has granted a Distributed Ledger Technology ( DLT ) provider license to Revolut Global Digital Assets Limited, a newly established subsidiary of Revolut.

A spokesperson told Cointelegraph that this license will enable the company to provide encryption services in more international markets, but the specific countries involved and the timeline for launch have not yet been announced.

Currently, Revolut provides cryptocurrency services through Revolut Ltd in the UK and carries out related business throughout the European Economic Area via Revolut Digital Assets Europe Ltd; its operations in the European Economic Area are governed by the EU's 'Regulation on Markets in Crypto Assets' (MiCA).

According to the company's announcement, this fintech company currently has over 80 million retail customers globally, of which about 16 million are cryptocurrency users.

Before obtaining a Gibraltar license, Revolut received preliminary approval in July to provide crypto services in Dubai, and in September, it obtained initial conditional approval from U.S. regulators to establish a national bank that will offer digital asset custody and crypto-related payment services.