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The Gibraltar Financial Services Commission has authorised Revolut Global Digital Assets Limited to handle virtual asset orders, custody and staking. The government announced the approval on 19 October 2026, alongside the restoration of local residents' sign-ups to Revolut's payments app.
Gibraltar authorises the crypto unit
The return of sign-ups came after discussions involving Revolut, Trade and Industry Minister Nigel Feetham and the regulator. The government did not explain why registrations had previously stopped. Feetham said the permission marked an important step for Gibraltar's virtual asset sector.
Revolut's wider crypto footprint
Revolut already serves UK crypto customers through Revolut Ltd and operates across the 30-country European Economic Area through Revolut Digital Assets Europe, using a MiCA licence from Cyprus. That area has about 450 million people. Revolut said the Gibraltar entity would contribute to its crypto operations in markets it considers important for expansion.
The company has yet to identify which regions or services the Gibraltar subsidiary will cover. In May, it named Michael Schroeder, previously Coinbase's head of risk for Europe, as global head of crypto expansion. In September, Revolut recruited Nilesh Khatwani from Crypto.com to lead institutional crypto sales as it prepared for a Dubai launch. The emirate's Virtual Assets Regulatory Authority gave Revolut in-principle approval in July, but a final licence remains pending. Emil Urmanshin, general manager of crypto and new bets, linked the Gibraltar approval to Revolut's compliance standards.
DLT permissions and local oversight
Gibraltar's government expects to grant three distributed ledger technology permissions this week, citing ongoing interest from major international firms. The territory's licensing push has gathered pace as higher UK gambling taxes have weighed on its remote gaming industry; Gibraltar licensed its first prediction market operator in March. Finance Magnates reported that Bullish, Block.one's exchange, received a Gibraltar DLT licence in November 2021, two years after CEX.IO.
The GFSC has also cancelled registrations: in January 2024 it removed Quickbit's Gibraltar unit after an inspection found customer due diligence breaches. Chief Minister Fabian Picardo said Revolut's decision reflected Gibraltar's reputation.
What this means on the desk
The approval adds a locally authorised entity to Revolut's crypto structure, but the company has not outlined the markets or service scope assigned to it. Operators assessing the change should establish which customer journeys will move to RGDAL and how order execution, custody records and staking balances will connect with existing processes.
Before updating onboarding, reconciliation or compliance workflows, teams will need to clarify the subsidiary's operational boundaries and the reporting requirements attached to them. They should also ask how the Gibraltar permission relates to Revolut's existing UK and European arrangements, and what changes, if any, are needed while the Dubai licence remains pending.
