Revolut has been granted a full banking licence in France, the second largest market in Europe. The decision arrived upon a joint review by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), France’s banking regulator, and the European Central Bank (ECB), which formally approved it through its Governing Council.
How a banking licence expands fintech company opportunities
In simple terms, a banking licence is an official permit that allows a company to act as a real bank rather than a payments app. Until now, many of Revolut’s services in various markets have run under lighter e-money or payment licences, which limit what a company can offer and how customer funds are protected. A full banking licence changes that. It lets Revolut hold customer deposits under stricter banking rules, offer protected savings accounts, and apply for national deposit guarantee schemes, the kind of protection traditional banks already provide.
Revolut did not mention the product expansion plans, instead saying it will focus on “localisation of its products and services” as it expands. However, in theory, a full banking licence opens the door to more financial services than are already available to the firm’s French customers, such as lending products, including business loans and mortgage financing. So far, Revolut customers in France can leverage current and savings accounts, investment services with robo-advisor tools, personal loans, travel insurance, etc.
All these offerings have been available via the Lithuanian licence, Revolut Bank UAB, operating through a French branch. Even if the banking app interface or list of functions for the customers in France won’t change, their accounts will be moved from Revolut Bank UAB French branch to the company’s new, locally regulated French bank. The firm explained that IBAN and card information will remain the same, but terms and conditions (T&Cs) will be updated accordingly before account migration.
Revolut regional expansion is in the cards too
The new entity, Revolut Bank S.A. (RBSA), will start serving customers in France first, then expand to Germany, Ireland, Italy, Portugal and Spain in later phases. This adds a second banking hub to the group, alongside its existing Lithuanian entity, Revolut Bank UAB, which continues to serve the rest of the European Economic Area. Both entities are supervised by the ECB.
Western Europe is already Revolut’s biggest and fastest-growing market, with around 30 million customers and close to 8 million new users added in the past year alone. The company also plans to invest more than €1 billion in the region and hire over 600 people, alongside opening a new regional headquarters in Paris in 2027. By that time, Revolut hopes to fulfill its ambitions of onboarding 10 million French customers, up from 7 million registered users as of early 2026. The number seems plausible, given that its French customer base was just about 4.5 million in 2025.
Revolut CEO Nik Storonsky said the licence gives the company “the foundation to build the next generation of banking” for its Western European customer base, calling France a strong platform for the company’s next growth phase.
“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.”
Revolut story
Revolut was founded in 2015 and has grown into one of Europe’s most valuable fintech companies, reportedly reaching a roughly $75 billion valuation in a private share sale last year. It already holds a UK banking licence, obtained in 2024, and a broader EU one secured back in 2022. The French licence adds another major market to that list and reinforces Revolut’s push to be seen not just as a fintech app, but as a full-scale bank competing directly with traditional lenders across Europe.
Frédéric Oudéa, Chairman of the Board of Directors of Revolut Western Europe, said: “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.”
