Gibraltar Grants Revolut Crypto Licence As It Expands Beyond Gambling

Gibraltar has granted a distributed ledger technology (DLT) permission to Revolut's cryptocurrency subsidiary, marking another step in the territory's efforts to expand its financial services industry beyond its established gambling sector.

The Gibraltar government confirmed on 19 October that Revolut Global Digital Assets Limited (RGDAL) had received authorisation from the Gibraltar Financial Services Commission (GFSC) under Part 7 of the territory's Financial Services Act.

The permission covers several cryptocurrency-related activities, including the transmission and execution of virtual asset orders, digital asset custody and staking services.

The announcement comes as Gibraltar seeks to attract international financial technology businesses while its gambling industry faces mounting pressure from significant increases in UK betting and gaming taxation.

Revolut Strengthens Its Regulated Crypto Operations

The new authorisation establishes Gibraltar as another regulated jurisdiction within Revolut's international cryptocurrency operations.

RGDAL joins Revolut Ltd in the United Kingdom and Revolut Digital Assets Europe Ltd, which operates under the European Union's Markets in Crypto-Assets (MiCA) regulatory framework.

Revolut, which reports having more than 80 million retail customers worldwide, has not confirmed which markets will be served by its Gibraltar subsidiary or when the authorised services will become available.

The Gibraltar government also announced that Revolut had fully resumed onboarding local residents to its electronic money and payments application, although it did not explain why registrations had previously been suspended.

Minister for Trade and Industry Nigel Feetham described the DLT authorisation as “an important development for Gibraltar’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,” Feetham said.

The government expects three DLT permissions to be issued during the week, although it has not identified the companies involved or clarified whether Revolut's approval is included in that figure.

Gibraltar Targets Growth Beyond Gambling

Gibraltar introduced its DLT regulatory framework in 2018 and has subsequently expanded its approach to emerging financial services and digital asset businesses.

Earlier this year, the territory also strengthened its position in the prediction markets sector, licensing Predict Street as its first prediction market operator in March before introducing dedicated Prediction Market Regulations in July.

The developments form part of a broader economic diversification strategy, with Gibraltar seeking to attract cryptocurrency, stablecoin and prediction market businesses alongside its established financial services and gambling industries.

Chief Minister Fabian Picardo said Gibraltar had “long led the way in establishing a rigorous regulatory environment for DLT firms”, highlighting the territory's regulatory approach as an attraction for international businesses.

However, the expansion into new sectors comes during a challenging period for Gibraltar's gambling industry, which remains an important contributor to the local economy.

UK Gambling Tax Increases Put Pressure On Operators

Gibraltar-based gambling companies are continuing to adjust to substantial increases in UK gambling duties, with Remote Gaming Duty having risen from 21% to 40% in April 2026.

A further increase in General Betting Duty on remote betting, excluding horse racing, from 15% to 25% is scheduled for April 2027.

The changes have already contributed to restructuring activity among gambling operators with operations in Gibraltar. Lottoland and bet365 have initiated redundancy consultations affecting local employees, while Entain's wider customer service restructuring also includes positions in the territory.

Industry concerns have intensified ahead of the UK Autumn Budget on 28 October, with gambling companies lobbying against additional taxation and calling for existing increases to be reconsidered.

On 14 October, the chief executives of six Betting and Gaming Council member companies urged Chancellor John Healey to pause the planned increase in remote betting duty.

Although Gibraltar continues to attract interest from emerging financial technology businesses, its government has maintained that diversification does not diminish the importance of established gambling operators.

Revolut's latest authorisation nevertheless represents another development in that strategy, providing Gibraltar with an opportunity to strengthen its digital asset industry as its traditional gambling sector navigates a more demanding tax environment.