Revolut, the London-headquartered financial technology (fintech) company, has received regulatory permission in Gibraltar for a newly established crypto subsidiary and has resumed onboarding new customers in the British Overseas Territory. The permission allows Revolut Global Digital Assets Limited (RGDAL) to carry out regulated distributed ledger technology (DLT) activities, including crypto order execution, custody, and staking, under the supervision of the Gibraltar Financial Services Commission (GFSC).
The Government of Gibraltar announced both developments in a press release dated October 19, 2026. According to the statement, the permission was issued under Part 7 of the Financial Services Act, the Gibraltar law that governs regulated financial activity in the territory.
What the DLT Permission Covers
Distributed ledger technology refers to systems, such as blockchains, that record transactions across a shared network rather than on a single central database. Gibraltar’s DLT regime applies to firms that use this technology to store or transmit value belonging to others.
Under the new permission, RGDAL is authorized to provide three categories of services:
- Transmission and execution of orders relating to virtual assets. Virtual assets are digital representations of value, such as cryptocurrencies, that can be traded or transferred electronically. This activity covers receiving customer buy and sell orders and carrying them out.
- Virtual asset custody services. Custody means holding and safeguarding digital assets on behalf of clients.
- Virtual asset staking services. Staking involves committing tokens to help validate transactions on proof-of-stake blockchains, typically in return for rewards.
The government said the permission “broadens the range of products and services that Revolut can offer through its app” and strengthens Gibraltar’s standing as a jurisdiction for financial services and virtual asset businesses.
Onboarding Resumes for Gibraltar Residents
Alongside the crypto authorization, the government confirmed that Revolut has fully resumed onboarding new customers resident in Gibraltar. New users in the territory can now open Revolut accounts and access the group’s electronic money and payments services.
According to the government, the outcome followed collaboration between Revolut, the Minister for Trade and Industry, the Hon Nigel Feetham KC MP, and the GFSC.
Minister Feetham attributed the result to “constructive engagement and close collaboration.” He said the aim was to give Gibraltar residents access to services from major international fintech firms while maintaining high regulatory standards. He also acknowledged the work of the GFSC’s DLT supervisory team and Heidi Bocarisa, the regulator’s Director of Specialist Regulation.
Revolut Frames Gibraltar as a Base for Wider Crypto Growth
Revolut has described the authorization as part of its international crypto expansion strategy. In statements reported by FX News Group, the company said it has more than 80 million retail customers, of whom 16 million use its crypto services.
Emil Urmanshin, General Manager of Crypto & New Bets at Revolut, said: “Securing our DLT authorisation from the GFSC reflects our commitment to operating at the highest standards of regulatory compliance. 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.”
Revolut currently offers crypto services through Revolut Ltd in the United Kingdom and through Revolut Digital Assets Europe Ltd (RDAEL) across the European Economic Area (EEA). RDAEL operates under the European Union’s Markets in Crypto-Assets (MiCA) regulation, the bloc’s unified rulebook for crypto service providers, following a license from the Cyprus Securities and Exchange Commission (CySEC).
The Gibraltar entity is positioned to support activity in markets beyond the UK and the EEA. Revolut has said further details on target regions and the services RGDAL will support will be announced in due course.
Gibraltar’s Chief Minister Welcomes the Move
The Hon Fabian Picardo KC MP, Chief Minister of Gibraltar, said: “Gibraltar has long led the way in establishing a rigorous regulatory environment for DLT firms, rooted in high standards and robust oversight. We are delighted to welcome global fintech Revolut, via its entity Revolut Global Digital Assets Limited to our financial ecosystem. 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.”
The government also said it expects three DLT permissions to be issued during the week of October 19, 2026, which it cited as evidence of continued interest from international firms.
Inside Gibraltar’s DLT Framework
Gibraltar introduced a dedicated DLT regulatory framework in 2018, making it one of the earliest jurisdictions to create a purpose-built regime for blockchain-based financial firms. The framework follows a principles-based approach, meaning firms must meet broad regulatory outcomes rather than a fixed checklist of rules. It operates under the Financial Services Act and related regulations.
The GFSC supervises the regime and maintains the register of authorized DLT providers. The territory has authorized a relatively small number of such firms, including entities associated with eToro, Xapo, Bullish, and LMAX Digital.
Approval Follows September Data Exposure Incident
The authorization comes weeks after Revolut disclosed a data exposure affecting customers. In September 2026, the company said it had fulfilled fraudulent information requests sent from an unauthorized mailbox on a legitimate government agency domain. As The Crypto Times reported on September 12, 2026, the incident exposed personal data, identity documents and transaction histories, including Bitcoin activity, of approximately 680 customers.
Revolut described the incident as a sophisticated external impersonation scam. The company said its systems and customer funds were not affected and that it has engaged with regulators.
What Remains Unclear
The scope of services covered by the Gibraltar permission is set out in the government statement. However, Revolut has not yet published which client jurisdictions RGDAL will serve or which specific products it will launch through the new entity.
For now, the announcement expands Revolut’s formal regulatory footprint for crypto beyond its existing UK and EEA arrangements, while restoring Gibraltar residents’ access to the group’s core payments services.
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