Revolut wins full French banking licence as EU push continues
The fintech's French entity becomes its second full EU banking hub, with Germany, Ireland, Italy, Portugal and Spain to follow, it says. Read more: Revolut wins full French banking licence as EU push continues
Fintech giant Revolut has received a full banking licence in France, marking a significant milestone in its European expansion plans. The company's French subsidiary, Revolut Bank SA (RBSA), has been granted a licence following joint assessment by France's Central Bank and the European Central Bank. This achievement follows Revolut's recent success in securing its full UK banking licence in March and its first Asia-Pacific banking entity in Australia in July.
With over 75 million customers worldwide, Revolut is now poised to expand its operations across Western Europe, including France, Germany, Ireland, Italy, Portugal, and Spain. The company's CEO, Nik Storonsky, expressed excitement about the licence, stating it will allow Revolut to build the next generation of banking for its customers.
Béatrice Cossa-Dumurgier, CEO of Revolut’s Western European operations, emphasized the importance of the decision and the company's commitment to localisation efforts in each market.
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