Summary
Revolut's French banking license, jointly approved by the ACPR and ECB, establishes a dual-hub model across Europe — with France serving Western Europe and Lithuania covering other EEA markets. The license enables Revolut to offer products requiring full banking authorization, including lending and regulated savings accounts, as it pursues its ambition to become one of Europe's largest and most trusted banks.
Key Points
- The license: Revolut Bank SA received a full banking license jointly approved by France's ACPR and the ECB, with the ECB Governing Council formalizing the decision. France becomes Revolut's second full EU banking hub, following Lithuania.
- The dual-hub model: The French license is the foundation for a dual-hub strategy that will let Revolut gradually expand into Germany, Ireland, Italy, Portugal, and Spain. The Lithuanian entity will continue managing operations across other European Economic Area markets. This provides a more efficient regulatory and operational footprint for the pan-European fintech.
- The product expansion: The French license enables Revolut to offer products that require full banking authorization, including lending and regulated savings accounts for both retail and business customers — expanding beyond its payments-focused services.
- The scale: Revolut has committed more than €1 billion to its Western Europe expansion over the past year. It added nearly 8 million new customers in Western Europe over the past year, bringing its total customer base in the region to approximately 30 million. Western Europe is now the company's largest and fastest-growing market.
- The headquarters: The company plans to open its Western European headquarters in Paris by early 2027.
- The regulatory winning streak: The French approval arrives just months after Revolut secured its full UK banking license in March 2026 — a license that had been the subject of a prolonged and occasionally public regulatory process stretching over several years.
- CEO framing: CEO Nik Storonsky described the license as a historic milestone, framing it as part of Revolut's ambition to become one of Europe's largest and most trusted banks.
- The significance: The dual-hub model and Western European expansion represent a major step in Revolut's evolution from a payments-focused fintech into a full-scale pan-European bank competing with traditional institutions. The €1 billion investment, 30 million regional customers, and full banking licenses in both the UK and France position Revolut for significant growth in Western Europe's competitive banking market.