Revolut received Gibraltar authorization for crypto orders, custody and staking, giving its digital-asset subsidiary a regulated basis to support the fintech’s planned expansion into additional markets.
Gibraltar’s government said Oct. 19 that the Gibraltar Financial Services Commission (GFSC) approved Revolut Global Digital Assets Limited under Part 7 of the Financial Services Act. The approval lets the subsidiary transmit and execute virtual asset orders, hold customers’ virtual assets in custody and provide staking services. The government has promoted its regulated distributed ledger technology (DLT) framework as a draw for companies, while Revolut describes Gibraltar as an early adopter of a dedicated regime.
Revolut said the approval will help it extend its crypto business to more markets, but it has not identified those destinations or provided a launch date. The company says it offers crypto services through Revolut Ltd in the United Kingdom and Revolut Digital Assets Europe Ltd in the European Economic Area. It reports more than 80 million retail customers worldwide and more than 16 million crypto users.
Revolut’s electronic money and payments app is again accepting sign-ups from Gibraltar residents, the government said. Gibraltar’s government expects three further distributed ledger technology permissions to be issued this week.
