Revolut Secures Full French Banking Licence
- On Monday, Revolut received a full French banking license, its second hub inside the European Union, following joint assessment by the ACPR and the European Central Bank.
- With operations across 40 markets, the license provides foundation for Nik Storonsky, founder and CEO of Revolut, to build next-generation banking for more than 30 million customers across Western Europe.
- RBSA will progressively serve France before expanding to Germany, Ireland, Italy, Portugal, and Spain, while Revolut Bank UAB remains the operational cornerstone for the rest of the EEA.
- The French approval is the latest regulatory win following a March UK license and July Australian launch. "This achievement reflects months of close collaboration," said Cossa-Dumurgier, CEO of Western Europe at Revolut.
- Following five consecutive years of profitability, Revolut is gearing up for a public listing around 2028 at a valuation between $150bn and $200bn, supported by more than €1bn in regional investment over the past year.
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With the approval of the ECB and the French regulator, the Revolut reinforces the European bet: it invests more than EUR 1 billion on the continent and opens its headquarters in Paris in 2027.
The British financial service provider Revolut is considered one of the most valuable neobanks in the world. With a new banking license, the company wants to continue to launch.
The British neobank announced this Monday, August 10th that it had obtained the bank license it lacked to offer savings and credit products. With this precious sesame, it wants to launch an assault on Western Europe, which will not solve the business of traditional banks.
The British Neobank Revolut now also has a banking license in France and wants to grow in Western Europe. This also applies to German customers – but they should notice little about the changeover.
(Paris=Yonhap News) Correspondent Song Jin-won = British digital bank Revolut announced on the 10th (local time) that it has obtained a French banking license.
Revolut wins French banking licence, creates second EU banking hub
Revolut has secured a full banking licence in France, creating its second banking entity in the European Union as the fintech prepares to move more than 30 million Western European customers onto a Paris-based operation. The European Central Bank’s Governing…
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