Revolut secures French banking approval for European expansion
The company is also investing heavily in Western Europe, committing more than €1 billion to the region over the past year and hiring more than 600 employees.
Revolut has secured a full French banking license, giving its European operations a new regulatory base as the fintech seeks to expand its presence across the continent.
The license was granted to Revolut Bank S.A. following a joint assessment by France’s financial-sector watchdog ACPR and final approval by the ECB Governing Council.
The new license will initially support Revolut’s operations in France, before the company progressively extends the French entity’s services to Germany, Ireland, Italy, Portugal and Spain, the firm said in a Monday statement.
Revolut’s existing Lithuanian bank, Revolut Bank UAB, will continue to serve the rest of its European Economic Area customer base.
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The structure creates a dual banking hub for Revolut in Europe, with both entities operating under the supervision of the ECB and their respective national regulators. The company said the model will enable greater localization of financial products while giving it closer access to customers, employees and local business ecosystems.
Western Europe has become Revolut’s largest and fastest-growing region, with approximately 30 million customers. Nearly 8 million customers joined in the past year, while Revolut Business serves hundreds of thousands of companies ranging from freelancers to large enterprises.
Revolut has committed more than €1 billion to Western Europe and plans to hire more than 600 people across the region. It will also open a new Western European headquarters in Paris in 2027, further increasing its presence in France.