Revolut powers up with full French banking license

This alongside Lithuanian entity will see the firm take a dual-hub approach

Global fintech firm, Revolut, has revealed it has gained a full banking license in France.

It was granted after a joint assessment by the ACPR - the French prudential regulator - and the European Central Bank, with the decision adopted by the ECB Governing Council. 

The licence comes as Revolut deepens its roots across Western Europe with the hiring of more than 600 people across its Western European markets, and its confirmation of it opening its Western European HQ, to be located in Paris.

This is where it will its senior leadership team including Frédéric Oudéa, Chair of RBSA's Board and Béatrice Cossa-Dumurgier, CEO of  Western Europe will be based. 

Revolut said it will now "progressively begin serving customers" across Europe, starting with France, followed by other European markets including Germany, Ireland, Italy, Portugal and Spain in "subsequent" phases.

The news comes as French FinTech Qonto is still waiting for its license, having applied back in 2025.

Despite the news, Revolut's Lithuanian entity, Revolut Bank UAB, will remain a "cornerstone of operations" for the rest of EEA. 

This dual-hub model by the FinTech heavy weight is designed to support its scale across the continent.

Nik Storonsky, founder and CEO of Revolut, said: “This licence gives us the foundation to build the next generation of banking for more than 30 million customers across Western Europe. 

"France has become a leading financial hub, supported by a dynamic financial ecosystem and a robust regulatory framework. It is the ideal platform to accelerate Revolut's next phase of growth - bringing us one step closer to our ambition of becoming one of Europe's largest and most trusted banks."

Frédéric Oudéa, chairman of the Board of Directors of Revolut Western Europe, added: "Receiving this licence is a significant milestone in Revolut's evolution as a banking group.

"It reflects our long-term commitment to building a bank that meets the highest governance, regulatory and compliance standards, and the constructive engagement we've built with the French and European authorities. 

"These foundations will support us as we continue to build trust with customers, regulators and partners across the region."