Revolut Bags Full French Banking Licence Amid European Expansion Plans

Revolut, a UK-based digital bank, has secured a full French banking licence from the European Central Bank (ECB) and the French prudential regulator (ACPR). This milestone marks a significant step in Revolut's growth strategy for Europe, allowing it to focus on localising its products for different markets.

The company will start serving customers in France before expanding across Western Europe, with other markets like Ireland, Germany, Italy, Spain, and Portugal following in phases. Revolut has already invested more than €1 billion in Western Europe and is hiring over 600 people across these markets.

Nik Storonsky, founder and CEO of Revolut, said the licence will enable the company to 'bring us one step closer to our ambition of becoming one of Europe's largest and most trusted banks'. The company has also announced plans to open its new Western European HQ in Paris in 2027.