Revolut Secures Full Banking Licence in France

Revolut has secured a full banking licence for its French entity, Revolut Bank S.A. (RBSA), as part of its European expansion plans.

The approval was granted after a joint assessment by France's Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the European Central Bank (ECB).

With this licence, Revolut can now onboard customers in France before expanding into Germany, Ireland, Italy, Portugal, and Spain.

The company has committed over €1 billion across Western Europe over the past year and intends to add more than 600 employees.

Revolut founder and CEO Nik Storonsky stated that this licence gives them the foundation to build 'the next generation of banking' for over 30 million customers across Western Europe.