Revolut's Gibraltar crypto licence: 5 things to know
Revolut's new entity RGDAL got a DLT licence from Gibraltar's regulator covering crypto trading, custody and staking for markets beyond the UK and the EEA.
CryptoGroup Newsroom · · 2 min read
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Revolut has won a Distributed Ledger Technology (DLT) Provider licence from the Gibraltar Financial Services Commission (GFSC) for a newly created subsidiary, Revolut Global Digital Assets Limited (RGDAL), which it plans to use for crypto services outside the UK and the European Economic Area. The fintech announced the authorisation on Monday, Oct. 19, as reported by Cointelegraph. Here is what it covers and what is still unknown.
A new entity for "rest of world" crypto
The licence goes to RGDAL, not to Revolut's existing crypto businesses. Revolut already serves crypto customers in the UK through Revolut Ltd and across the EEA through Revolut Digital Assets Europe Ltd, which operates under the EU's MiCA rules (see our MiCA explainer). The Gibraltar company is meant to support its international crypto offering in other expansion markets.
Trading, custody and staking are covered
According to the Government of Gibraltar, the permission under Part 7 of the Financial Services Act lets RGDAL transmit and execute virtual-asset orders, provide custody of virtual assets and offer staking services.
No countries or dates yet
Revolut has not said which markets RGDAL will serve or when. A spokesperson told Cointelegraph only that the licence will let it offer crypto in additional international markets; The Block says details on regions and rollouts will follow "in due course". Emil Urmashin, Revolut's general manager for crypto and new bets, framed the licence as a sign of its commitment to high compliance standards.
Gibraltar onboarding is back too
The Gibraltar government also welcomed Revolut's full resumption of onboarding for Gibraltar residents to its e-money and payments app. It added that three DLT permissions are expected to be issued this week, underlining the territory's pitch as a regulated hub for virtual-asset firms.
Part of a bigger licensing push
Revolut reports more than 80 million retail customers, including over 16 million crypto users. This year it received in-principle approval for crypto services in Dubai (July), conditional approval from the U.S. Office of the Comptroller of the Currency for a national bank charter (September) and clearance to launch Revolut Bank UK (March). In August it started rolling out its euro-pegged EURR stablecoin to selected customers in Denmark, Poland and Portugal. Europe's licensing race continues as well: the latest ESMA update added BingX and YouHodler to the MiCA register.
This article is for information only and is not financial advice. Crypto assets are volatile; do your own research. Read our disclaimer
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