Summary
Revolut secured a full French banking license from the ACPR and ECB, with Paris becoming its Western Europe headquarters. This deepens Revolut's regulated banking presence in the EU. Separately, Revolut Digital Assets Europe (Cyprus-based, powering European crypto services) is undergoing a leadership transition — Costas Michael stepping down as CEO after 4+ years, succeeded by Georgios Vasiliou (ex-Trading.com). The moves reflect Revolut maturing from licensing/expansion to operational execution across Europe.
Key Points
- Full French banking license from ACPR + ECB; Paris to be Western Europe HQ
- Revolut Digital Assets Europe: Costas Michael out as CEO (4+ years), Georgios Vasiliou (ex-Trading.com) in; Michael remains board adviser
- Cyprus entity secured Cyprus's first Crypto Asset Service Provider license; MiCA compliance passports services across all 27 EU states
- Supported launches in Italy, Spain, Croatia, Netherlands; 50+ team in staking, Revolut X, crypto education
- Revolut wealth-division revenue: $876M in 2025, up 31% YoY; crypto trading/staking important drivers
- Revolut advantage: distribution across banking, payments, wealth; crypto as feature inside a super-app
- European crypto increasingly resembles regulated brokerage infrastructure: best execution, surveillance, custody, complaints, disclosures
- Vasiliou's online-trading/risk/middle-office background signals shift from evangelism to operational control
- Revenue sensitivity to market cycles remains a risk