Revolut Secures French Banking Licence, Eyes European Expansion

Revolut has secured a French banking licence, paving the way for its expansion into Western Europe. The fintech received approval from France's ACPR banking regulator and the European Central Bank, allowing it to operate as a bank across the EU.

The licence will enable Revolut to develop products tailored to French customers, including lending and regulated savings services. This is in line with the company's broader growth strategy, which has seen it expand its financial services beyond payments and cryptocurrency.

Revolut plans to hire over 600 employees across Western Europe, including 400 workers in France. The company has committed $1.1 billion to its French expansion and signed a 10-year lease for its Paris headquarters.