Revolut secures banking licence in France

Revolut has obtained a afloat banking licence successful France aft a associated reappraisal by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the European Central Bank (ECB).

The support comes arsenic the institution increases its beingness successful Western Europe.

Over the past year, Revolut committed much than €1bn ($1.15bn) to the region, and announced plans to enlistee implicit 600 employees crossed its Western European markets.

It besides acceptable retired plans to unfastened a Western European office successful Paris successful 2027.

The Paris-based cognition is overseen by elder executives including Frédéric Oudéa, seat of RBSA's board, and Béatrice Cossa-Dumurgier, main enforcement for Western Europe.

According to the company, it has astir 30 cardinal customers successful Western Europe, with astir 8 cardinal added successful 2025.

Revolut Bank said it would present services successful stages crossed Europe, opening successful France.

Germany, Ireland, Italy, Portugal and Spain are owed to beryllium included successful aboriginal phases.

Its Lithuanian unit, Revolut Bank UAB, volition proceed to play a cardinal relation for the remainder of the EEA.

Under this dual-hub statement successful Europe, some entities volition stay nether the supervision of their respective section authorities and the European Central Bank.

The revised operation is meant to assistance the institution accommodate products much intimately to section markets portion gathering banking links done greater proximity to customers, employees and section concern environments.

Revolut laminitis and CEO Nik Storonsky said: "This licence gives america the instauration to physique the adjacent procreation of banking for much than 30 cardinal customers crossed Western Europe. France has go a starring fiscal hub, supported by a dynamic fiscal ecosystem and a robust regulatory framework. It is the perfect level to accelerate Revolut's adjacent signifier of maturation - bringing america 1 measurement person to our ambition of becoming 1 of Europe's largest and astir trusted banks."

Last month, Revolut received an autarkic authorised deposit-taking instauration (ADI) licence from the Australian Prudential Regulation Authority (APRA).

The support marks the neobank's authoritative debut arsenic a licensed slope successful Australia.

"Revolut secures banking licence successful France" was primitively created and published by Retail Banker International, a GlobalData owned brand.