Revolut Secures Full French Banking License

Revolut Bank S.A., a subsidiary of Revolut, has secured a full French banking license after a joint assessment by the European Central Bank (ECB) and the French prudential regulator (ACPR). This milestone marks a significant step for the online bank in its expansion plans. According to Beatrice Cossa-Dumurgier, CEO Western Europe at Revolut, 'the focus now shifts to execution, beginning with serving customers in France before progressively expanding across Western Europe.'

The digital bank currently serves 30 million clients across Western Europe and has more than 75 million clients worldwide. With the new license, Revolut plans to invest over EUR1 billion in Western Europe and hire over 600 people in the region. The company will also open its new Western European headquarters in Paris in 2027.

Revolut's Lithuanian entity, Revolut Bank UAB, will continue to operate as the focal point for operations in the rest of the European Economic Area. This two-pronged model is expected to support the bank's growth across Europe, with both entities subject to supervision by the European Central Bank and local governing authorities.