Revolut Secures French Banking License Amid Ambitious European Expansion
Revolut has received a full banking license in France, a significant milestone for the fintech company as it expands its presence in Western Europe. The license was granted after a joint assessment by the ACPR and the European Central Bank.
The UK-based company has been investing heavily in the region, committing over €1 billion to hiring more than 600 people across its Western European markets. Revolut has also confirmed plans to open its new Western European HQ in Paris by 2027.
Revolut's CEO Nik Storonsky said the license gives them a foundation to build the next generation of banking for over 30 million customers in Western Europe. He added that France is an ideal platform to accelerate Revolut's growth and become one of Europe's largest and most trusted banks.
The company will begin serving customers in France before expanding across Western Europe, accelerating the localisation of its products and services to meet the needs of retail and business customers.