On 19 October the Gibraltar government said Revolut Global Digital Assets Limited (RGDAL) had been granted a permission under Part 7 of Gibraltar’s Financial Services Act. Issued by the Gibraltar Financial Services Commission (GFSC), it covers transmitting and executing virtual asset orders, virtual asset custody and staking.
The government said three DLT permissions are expected to be issued during the course of this week. It has not named the firms, or said whether Revolut’s permission is one of them.
It also confirmed that Revolut has fully resumed onboarding Gibraltar residents to its e-money and payments app, without saying why onboarding had been paused.
Regulatory certainty
Minister for Trade and Industry Nigel Feetham described the permission 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,” he said.
Feetham added that the developments were “the result of constructive engagement and close collaboration between Revolut, the government and the GFSC”.
Revolut’s third crypto base
RGDAL joins Revolut Ltd in the UK and Revolut Digital Assets Europe Ltd, which covers the European Economic Area under the EU’s MiCA regime, as the company’s regulated crypto entities. Revolut, which says it has more than 80 million retail customers, has not said which markets RGDAL will serve or when.
Emil Urmanshin, Revolut’s general manager of crypto and new bets, said the authorisation reflected the company’s commitment to “operating at the highest standards of regulatory compliance”, in a statement shared with The Block. He described Gibraltar as “an ideal jurisdiction to support our global operational framework”, FX News Group reported.
Gibraltar’s chief minister, Fabian Picardo, quoted in Revolut’s announcement, said the territory had “long led the way in establishing a rigorous regulatory environment for DLT firms”.
Beyond gaming
Gibraltar introduced its DLT framework in 2018 and has since moved into adjacent sectors. In March, it licensed Predict Street, the operator behind ADI Predictstreet, as its first prediction market operator. In July, it published dedicated Prediction Market Regulations 2026.
The push comes as the territory’s gaming sector absorbs UK tax rises. Remote gaming duty rose from 21% to 40% on 1 April, and the remote betting rate of general betting duty climbs from 15% to 25% in April 2027.
Lottoland and Bet365 have both launched job-cut consultations affecting Gibraltar staff this year. Entain’s global cut of around 400 customer care jobs also includes roles on the Rock.
Speaking in June, Feetham said Gibraltar’s new Gambling Act was drawing interest from prediction markets and from digital asset and stablecoin businesses. He stressed that diversification did not diminish the importance of established operators.
The UK autumn budget on 28 October is the sector’s next test. Most lobbying has targeted machine games duty, which hits land-based venues. But on 14 October, the chief executives of six Betting and Gaming Council members also asked Chancellor John Healey to pause the 2027 remote betting duty rise, which bears directly on Gibraltar-licensed sportsbooks.