Revolut says Rock's ‘clear and stringent’ regulatory framework offers solid base for crypto innovation

Global fintech Revolut said its new licence from the Gibraltar Financial Services Commission represented “a key step” in its international crypto expansion strategy, as it highlighted the value of Gibraltar’s robust regulatory environment to enable innovation.

Revolut said the Rock’s “early and comprehensive” regulatory framework provided “a secure baseline” for the company’s international digital asset services and underscored its commitment to “robust regulatory compliance”.

The Distributed Ledger Technology provider licence was granted to the newly established Gibraltar entity Revolut Global Digital Assets Limited, which will support the company’s expanding crypto offerings.

Revolut has more than 80 million retail customers worldwide and over 16 million crypto users, handling more than a billion transactions every month.

It already provides cryptocurrency services through Revolut Ltd in the UK and Revolut Digital Assets Europe Ltd across the European Economic Area under the EU’s MiCA framework.

“As one of the first jurisdictions to establish a dedicated regulatory framework for DLT, Gibraltar offers a clear and stringent supervisory environment for digital asset innovation,” Revolut said in a statement on Monday.

“Securing our DLT authorisation from the GFSC reflects our commitment to operating at the highest standards of regulatory compliance,” said Emil Urmashin, who heads Revolut’s crypto and new bets operations.

“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 welcomed the company’s decision to expand its crypto operations from Gibraltar.

“Gibraltar has long led the way in establishing a rigorous regulatory environment for DLT firms, rooted in high standards and robust oversight,” Mr Picardo said.

“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.”

Revolut said further details of the regions and services covered by the Gibraltar operation to be announced in due course.

Nigel Feetham, the Minister for Justice, Trade and Industry, said Revolut’s decision to secure a Gibraltar licence was an important development for the Rock’s virtual asset sector.

“The continued interest of major international firms, alongside the issuance of further DLT permissions, demonstrates the attractiveness of Gibraltar as a jurisdiction for businesses seeking regulatory certainty and a clear framework within which to innovate and grow,” he said.