Revolut has secured a Distributed Ledger Technology provider licence from the Gibraltar Financial Services Commission for a newly established subsidiary, Revolut Global Digital Assets Limited, creating a regulated base for the fintech’s crypto operations outside the UK and European Economic Area.
The company has yet to identify which markets or products will fall under the Gibraltar entity, and it gave no timetable for launching services through the new unit. That leaves the immediate effect for customers unclear, but the approval adds another regulated crypto vehicle to Revolut’s expanding international structure as it pursues banking and digital-asset licences in several jurisdictions.
Revolut said the Gibraltar authorisation reflects its focus on compliance standards for crypto services. The company’s crypto and new-bets general manager, Urmashin, addressed those standards in Revolut’s announcement, though the firm did not disclose operational details such as the assets to be supported, custody arrangements, or the availability of staking services.
Gibraltar unit extends Revolut’s regulated crypto structure
Gibraltar’s DLT provider regime regulates firms using distributed-ledger technology to store or transmit value belonging to others, operate marketplaces, provide custody, and offer certain blockchain-based services. Authorisation by the Gibraltar Financial Services Commission places Revolut Global Digital Assets Limited within that framework, which includes requirements relating to governance, financial resources, cybersecurity, market integrity, and the handling of customer assets.
The licence is separate from Revolut’s existing European arrangements. Crypto services in the UK are offered through Revolut Ltd, while customers across the European Economic Area are served by Revolut Digital Assets Europe Ltd. The latter operates under the European Union’s Markets in Crypto-Assets framework, known as MiCA.
By using distinct regulated entities, Revolut can adapt its product structure to different supervisory regimes rather than attempting to operate global crypto services from one licence. Gibraltar’s framework has been in place for several years and has attracted a number of digital-asset firms, although the territory’s authorisation does not itself grant a passport to offer services across the EU or the UK.
Revolut reported more than 80 million retail customers globally and more than 16 million crypto users. The Gibraltar licence therefore concerns a substantial existing customer base, even if the company has not said how many users could ultimately be served through the new subsidiary.
Licensing effort follows banking approvals
The crypto authorisation arrives during a period of regulatory expansion for Revolut beyond its original payments business.
In March, the company received approval to launch Revolut Bank UK after British regulators lifted restrictions attached to its banking licence. The development allowed the company to move toward a fuller UK banking rollout, following a prolonged authorisation process with the Prudential Regulation Authority and Financial Conduct Authority.
Revolut also said last month that it had received conditional approval from the US Office of the Comptroller of the Currency as it seeks a US banking charter. Conditional approvals typically require an applicant to satisfy further requirements before it can begin operating as a bank, and Revolut has not announced a date for a US banking launch.
The sequence of approvals shows a company building regulated local entities in major markets rather than relying solely on a cross-border fintech model. For its crypto business, that approach could give Revolut more flexibility over which services it offers in each jurisdiction, while also increasing the compliance and operating costs associated with maintaining separate licensed businesses.
EURR rollout adds a stablecoin layer
Revolut’s licence announcement also follows the initial rollout of EURR, its euro-pegged stablecoin, to selected customers in Denmark, Poland, and Portugal in August. The company said it plans to extend EURR access across the EEA later this year.
A euro stablecoin is designed to maintain a value equivalent to one euro and can be used for transfers or settlement on blockchain networks. Its usefulness depends heavily on practical distribution, liquidity, regulatory treatment, and integration with payment services. Revolut’s existing retail customer base could give EURR a ready distribution channel within its app, although the company has not linked the stablecoin’s EEA rollout to the Gibraltar-licensed unit.
The stablecoin market remains dominated by tokens pegged to the US dollar. Euro-denominated products represent a far smaller part of the sector, leaving providers to compete on regulatory compliance, accessibility, redemption arrangements, and payment integrations rather than simply on scale.
MiCA has created a clearer European legal framework for stablecoin issuers and crypto-asset service providers, while Gibraltar remains outside the EU regime. That distinction may shape how Revolut divides stablecoin and trading-related activities among its different legal entities.
Product details remain pending
Revolut has not said whether the Gibraltar subsidiary will initially focus on trading, custody, token transfers, stablecoin-related services, or other digital-asset products. It has also not announced any changes for current UK or EEA crypto customers.
For users, the next material update will be the company’s list of supported regions and services. Those decisions will show whether Gibraltar becomes a hub for markets where Revolut has limited crypto coverage, a platform for specific institutional or cross-border functions, or primarily a compliance structure for future expansion.
The new licence does not alter the regulatory position of Revolut’s UK and EEA crypto operations, which remain handled by their respective local entities. It does give the company another authorised route for international digital-asset expansion as it continues to build banking, payments, stablecoin, and crypto businesses across separate regulated jurisdictions.
For insights on licenses and compliance, explore our guide on VASP licenses and evolving global crypto regulations.
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