Revolut has secured a full banking licence in France from the European Central Bank and France’s banking regulator, ACPR, marking a major step in the fintech’s European expansion.
Revolut has secured a full banking licence in France from the European Central Bank and France’s banking regulator, ACPR, marking a major step in the fintech’s European expansion.
The licence will allow Revolut to operate through a French banking entity and expand its range of services, including lending and regulated savings products. France will also become the base for the company’s Western European operations, with Revolut planning to gradually move customers in markets including Germany, Ireland, Italy, Portugal and Spain to its French banking entity.
Revolut plans to invest more than €1 billion in Western Europe and create hundreds of new jobs, reinforcing its ambition to compete more directly with established banks across the region.
The move strengthens Revolut’s position as it continues its transformation from a fintech platform into a global digital banking group.