Revolut Wins Gibraltar DLT Licence for New Digital Assets Entity

Revolut announced on October 19, 2026, that the Gibraltar Financial Services Commission (GFSC) had granted a Distributed Ledger Technology (DLT) Provider licence to Revolut Global Digital Assets Limited (RGDAL), the fintech company’s newly established Gibraltar entity.

HM Government of Gibraltar confirmed the authorisation the same day in press release 796/2026, stating that RGDAL had been granted a permission under Part 7 of the Financial Services Act to undertake regulated DLT activities: the transmission and execution of virtual asset orders, the provision of virtual asset custody services and virtual asset staking services.

Revolut said RGDAL will utilise the licence to support the company’s growing international presence and crypto offerings across key expansion markets. Revolut reports more than 80 million retail customers worldwide and over 16 million crypto users. The company already provides crypto services through Revolut Ltd in the UK and through Revolut Digital Assets Europe Ltd across the European Economic Area under MiCA.

Revolut described Gibraltar as one of the first jurisdictions to establish a dedicated regulatory framework for DLT and said the territory offers a clear and stringent supervisory environment for digital asset innovation.

“Securing our DLT authorisation from the GFSC reflects our commitment to operating at the highest standards of regulatory compliance,” said Emil Urmanshin, GM Crypto & New Bets at Revolut. “Gibraltar’s pioneering oversight in the digital asset space makes it an ideal jurisdiction to support our global operational framework as we continue building trusted and secure crypto services for our international customer base.”

Chief Minister Fabian Picardo KC MP said Gibraltar had long led the way in establishing a rigorous regulatory environment for DLT firms, rooted in high standards and robust oversight, and welcomed Revolut Global Digital Assets Limited to the territory’s financial ecosystem.

Onboarding Resumption and Government Response

In its release, the Gibraltar government welcomed the full resumption of customer onboarding by the Revolut Group in Gibraltar, noting that new customers in Gibraltar can now open Revolut accounts and access the Group’s services. The government said the developments followed close collaboration between Revolut, Minister for Trade and Industry Nigel Feetham KC MP, and the GFSC.

The government also said three DLT permissions were expected to be issued during the course of that week, and it said this demonstrated the jurisdiction’s continued appeal to businesses seeking to operate in the virtual asset sector within a regulated environment. Feetham acknowledged the contribution of the GFSC’s DLT supervisory team and of Heidi Bocarisa, Director of Specialist Regulation.

“These developments are the result of constructive engagement and close collaboration between Revolut, the Government and the GFSC,” Feetham said. He added that the objective had been to ensure Gibraltar residents can access the services offered by major international financial technology businesses while maintaining the high regulatory standards underpinning the territory’s reputation as a financial services jurisdiction.

The GFSC’s DLT Framework

The GFSC’s DLT framework applies to firms using distributed ledger technology for the transmission or storage of value belonging to others. Authorisation follows a staged application process. Stage 1 covers the business model, capital and key individuals; Stage 2 covers risk management, IT systems, corporate governance and financial crime; Stage 3 covers conduct of business, non-financial resources, and policies and procedures. The GFSC advances an application to the next stage only once it is satisfied with the information provided at the current stage.

Applicants are invited to deliver a presentation to the GFSC covering the key individuals driving the business, the business plan, financial projections and evidence of how the firm will meet the regulator’s principles. Once a permission has been granted, an onsite visit is completed, giving the firm the opportunity to demonstrate that the processes and controls communicated during the presentation are effective and work in practice.

Licensed DLT Providers must meet ten regulatory principles covering honesty and integrity; customer care; adequate financial and non-financial resources; risk management; protection of client assets, with custodial assets segregated from the DLT Provider’s own assets; effective corporate governance; systems and security access standards; systems to prevent, detect and disclose financial crime risks; resilience, including contingency plans for the orderly and solvent wind-down of the business; and conduct that maintains or enhances the integrity of the markets in which the provider participates.

Revolut said further details regarding target regions and service rollouts supported by RGDAL will be announced in due course.