Revolut Secures Key French Banking License Amid Global Expansion

Revolut has secured a full banking licence in France, allowing it to expand its services for approximately 7 million French customers. The UK-headquartered fintech obtained the license after an assessment by the French banking regulator ACPR and the European Central Bank.

The new license will enable Revolut to offer a wider range of lending, mortgage, and savings products to its French clients. This is a significant step in Revolut's ambition to become a major global banking group, with founder and CEO Nik Storonsky aiming for 100 million customers worldwide.

France has become a key part of Revolut's European expansion strategy, with the company committing to invest €1 billion in western Europe and recruit around 600 employees. The approval comes after previous regulatory scrutiny of Revolut's risk and compliance procedures, which led to restrictions on some product launches.