Revolut secures French banking license, becomes EU's second fully-licensed banking entity.

Fintech firm and crypto-friendly bank Revolut has secured a French banking license, marking its second full banking license in the European Union after Lithuania. The license was jointly reviewed by France’s Prudential Supervision and Resolution Authority (ACPR) and the European Central Bank (ECB), and approved by the ECB’s Governing Council. With the license, Revolut Bank S.A. will be able to offer a broader range of banking services in France, including loans, mortgages, and regulated savings products. France is one of Revolut’s largest Western European markets. Previously, the company operated in France primarily under its Lithuanian banking license, offering only payments and basic financial services. Following the approval, Revolut will gradually migrate its French operations to the new French banking entity, with plans to subsequently expand to Germany, Ireland, Italy, Portugal, and Spain. Revolut noted that it has invested over €1 billion in Western Europe over the past several years, created more than 600 local jobs, and plans to set up its Western Europe headquarters in Paris by 2027. However, the license comes with regulatory conditions. Reports suggest the ECB may impose restrictions on new products for Revolut’s French operations, similar to the measures previously applied to its Lithuanian unit, which could delay the launch of loans and savings products. So far this year, Revolut has continued its global regulatory expansion drive. The firm obtained a full banking license in the UK in March 2026, and another full banking license in Australia in July. Currently, Revolut operates across 40 markets, with its valuation rising to $115 billion after secondary stock transactions in 2026.