Revolut Gets Gibraltar Approval for Crypto Subsidiary

Revolut has received authorization from Gibraltar’s financial regulator for a newly formed subsidiary to provide digital-asset services, a step the company says will support expansion into international markets. The permission allows Revolut Global Digital Assets Limited to execute virtual-asset orders, hold assets in custody and offer staking, according to statements from the Gibraltar Government and reporting on the authorization. The Gibraltar Financial Services Commission granted the subsidiary a Distributed Ledger Technology provider authorization under the territory’s regulatory framework. Revolut has not named the markets where the entity will operate or set dates for launches. The company said details on target regions and rollouts would follow in due course. The authorization comes alongside renewed access to Revolut’s payments app for Gibraltar residents. The Gibraltar Government said the company had fully resumed accepting local sign-ups after discussions involving Revolut, Trade and Industry Minister Nigel Feetham and the regulator. The government did not explain why sign-ups had previously stopped. The local app reopening and the crypto permission are distinct...