Revolut Secures Banking License in France, Eyes EU Expansion

Revolut has obtained a full banking license in France, allowing it to expand its operations across European countries. The company's French subsidiary, Revolut Bank S.A., underwent an assessment by the French regulator ACPR and the European Central Bank before receiving formal approval from the ECB's governing body.

The new license will enable Revolut to gradually transfer its customer services to a French banking structure, starting with operations in France and eventually expanding to other countries such as Germany, Ireland, Italy, Portugal, and Spain. The company currently serves over 30 million customers in Western Europe, with nearly 8 million signing up over the past year.

Revolut's expansion plans are part of its broader strategy to adapt its products and services more quickly to individual European markets' needs. In addition, the company has committed to investing over €1 billion in Western Europe and hiring more than 600 employees in the region.