Revolut has obtained a Distributed Ledger Technology (DLT) Provider licence in Gibraltar for a new crypto entity.
The Gibraltar Financial Services Commission (GFSC) granted the licence to Revolut Global Digital Assets Limited (RGDAL).
With this licence, RGDAL will support Revolut’s crypto services in its international expansion markets. However, the company has not yet named these markets.
Gibraltar was one of the first jurisdictions to introduce a dedicated regulatory framework for DLT firms.
Currently, Revolut offers crypto services in the UK through Revolut Ltd.
In addition, it serves customers across the European Economic Area (EEA) through Revolut Digital Assets Europe Ltd (RDAEL).
This entity operates under the EU’s Markets in Crypto-Assets (MiCA) regulation.
According to the company, Revolut has more than 80 million retail customers and over 16 million crypto users worldwide.
“Its decision to launch further crypto expansion from here is a testament to the strength, reputation, and global appeal of Gibraltar as a trusted hub for digital asset innovation,”
said Fabian Picardo KC MP, Chief Minister of Gibraltar.
Further details on RGDAL’s target regions and service rollouts will follow, the company said.
Featured image: Edited by Fintech News Switzerland, based on image by Revolut via its website.
