- ACPR and the European Central Bank have granted Revolut a French banking license.
- Revolut will be able to provide regulated banking services in France thanks to the new license.
- Revolut intends to employ about 400 people and make a $1.1 billion investment in France. France will be the first country to migrate customers to Revolut’s French division, with other European markets to follow.
Revolut has secured a French banking license. The license will allow the fintech to operate as a locally regulated bank in France and support its plans to move customers to its French banking entity.
Revolut Receives French Banking Approval
Revolut received approval from France’s banking regulator ACPR and the European Central Bank (ECB). The new license gives the company a local banking operation in France, adding to its existing European banking license in Lithuania.
Revolut has been granted a French banking licence.
This marks a major milestone in our European journey.
Our French bank will serve customers across Western Europe — part of a Revolut network of almost 60 million customers across Europe, making us one of the continent’s largest…
— Revolut (@Revolut) August 10, 2026
The French license will allow Revolut to offer more banking products designed for local customers. These could include lending, savings, and other regulated financial services.
The company has also said that France will play an important role in its Western European banking plans.
France To Become Revolut’s Western Europe Hub
Over 600 workers will be hired by the corporation throughout Western Europe, including about 400 in France.
The fintech has agreed to a 10-year lease for its Paris headquarters and has committed roughly $1.1 billion to its French growth.
Former Société Générale CEO Frédéric Oudéa has also been appointed chairman for Revolut’s Western Europe operations. Paris is expected to serve as the main base for the company’s regional banking business.
Revolut Plans Customer Migration
The company plans to gradually move customers to its French entity. The migration will begin with customers in France before expanding to Germany, Ireland, Italy, Portugal and Spain.
Currently, Revolut has over 75 million users worldwide. In contrast to typical banks, the company does not rely on a vast network of physical branches; instead, it works mostly through its internet platform. The move to a French banking entity could also give Revolut greater control over its services across key European markets.
Revolut Expands Its Banking Business
Revolut has been growing beyond payments and cryptocurrency services. Lending, savings and other financial products are becoming an increasingly important part of its business.
The company already holds a banking license in the UK, giving it a stronger position in two major European markets.
Revolut is also competing with digital banking platforms connected to established French banks, including Société Générale’s BoursoBank.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment