Revolut secures French banking license from ACPR and ECB, unlocking Western Europe expansion

Revolut just picked up the keys to one of Europe’s most important banking markets. The fintech company’s French entity, Revolut Bank SA, has received a full banking license jointly approved by France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the European Central Bank, with the ECB Governing Council formalizing the decision. France becomes Revolut’s second full EU banking hub, following Lithuania. A dual-hub strategy across six countries The French license isn’t just about serving the French market. It’s the foundation for a dual-hub model 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. 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. The numbers behind the push Revolut has committed more than €1 billion to its Western Europe expansion over the past year. Revolut has added nearly 8 million new customers in Western Europe over the past year, bringing its total customer base in the region to a...