Revolut has secured a full banking licence in France, giving the fintech company a second banking entity inside the European Union and creating a new base for its Western European operations.
The approval allows Revolut Bank S.A. to operate from France alongside the company’s existing Lithuanian banking entity. Revolut plans to begin serving French customers through the new operation before gradually moving customers in Germany, Ireland, Italy, Portugal and Spain onto the French platform.
The expansion could eventually place more than 30 million Western European customers under Revolut’s Paris-based banking structure.
Revolut Secures Full Banking Licence in France
The European Central Bank’s Governing Council approved Revolut’s French banking licence following a joint review with France’s Autorité de Contrôle Prudentiel et de Résolution.
The approval allows Revolut Bank S.A. to operate as a fully regulated banking entity.
Until now, French customers were largely served through Revolut’s Lithuanian banking operation, which gives the company access to markets across the European Economic Area.
The new French entity gives Revolut a second major banking base in the EU and allows the company to localize more of its services for Western European customers.
France Will Become Revolut’s Western European Banking Hub
Revolut plans to use France as the foundation for a broader Western European expansion.
French customers will be the first to move onto the new banking entity.
The company then expects to progressively transfer customers in:
- Germany
- Ireland
- Italy
- Portugal
- Spain
The Lithuanian banking operation will continue serving customers in other European Economic Area markets.
This structure gives Revolut two major regulated banking hubs within the EU.
More Than 30 Million Customers Could Move to the French Entity
Revolut founder and CEO Nik Storonsky said the French licence gives the company a platform from which it can serve more than 30 million Western European customers.
The move reflects Revolut’s growing scale across Europe.
France has become one of the company’s most important markets and is now its largest Western European market.
By early 2026, Revolut had more than seven million customers in France.
That figure was roughly 2.5 million higher than in 2025.
The company aims to reach 10 million French customers by 2027.
French Licence Opens the Door to Lending and Mortgages
One of the most important benefits of the licence is that Revolut can expand beyond its existing payments-focused model.
The company can now develop locally regulated banking products such as:
- Personal loans
- Mortgages
- Regulated savings accounts
- Deposit products
- Other traditional banking services
These products could make Revolut a more direct competitor to established French banks.
The company has historically generated a significant share of revenue from payments, subscriptions, investments and crypto trading rather than conventional lending.
The French licence gives Revolut greater room to change that balance.
Regulated Savings Products Could Expand the Offering
Revolut could also explore savings products similar to those already popular in France.
Products modeled around regulated savings structures such as Livret A could eventually become part of the company’s local banking offering, depending on regulatory approvals and product design.
These services could help Revolut compete for a larger share of customer deposits.
For digital banks, savings and lending products are important because they can deepen customer relationships beyond everyday payments and card usage.
Revolut Has Invested More Than €1 Billion in France
The banking approval follows a significant investment by Revolut in the French market.
The company says it has committed more than €1 billion to its operations in France.
It has also hired more than 600 employees in the region.
A new Western European headquarters is scheduled to open in Paris in 2027.
That office is expected to support the company’s growing regional banking, compliance and product operations.
Paris Will Become a Major Revolut Operations Center
The French licence is more than a regulatory milestone.
It also signals a broader shift in Revolut’s European operating model.
Paris is expected to become a central hub for the company’s Western European business.
Béatrice Cossa-Dumurgier, Revolut’s CEO for Western Europe, said the rollout will begin with customers in France before expanding into neighboring markets.
The company also plans to increase product localization for both retail and business customers.
Revolut Took a Gradual Approach to the Licence
The approval followed a lengthy regulatory process.
In October 2025, Cossa-Dumurgier said Revolut was not rushing the application because the company could already serve customers in France through its Lithuanian banking licence.
By April 2026, she said the company expected a decision during the year.
This approach gave Revolut time to strengthen its governance and compliance systems before establishing a separate French bank.
Former Société Générale CEO Chairs Revolut Western Europe
Frédéric Oudéa, the former CEO of Société Générale, now chairs Revolut Western Europe’s board.
He said the French approval followed extensive work involving the company’s governance, regulatory standards and compliance structure.
The process also required engagement with both French and European banking regulators.
Bringing experienced traditional banking executives into senior governance roles may help Revolut demonstrate that it can operate at the same regulatory standard as long-established financial institutions.
ECB Conditions Could Slow Some Product Launches
Although the French banking licence gives Revolut broader powers, some products may not become available immediately.
Bloomberg previously reported that the new French entity could face certain regulatory conditions similar to restrictions applied to Revolut’s Lithuanian banking business.
Revolut has not publicly disclosed the exact conditions attached to the French licence.
Depending on their scope, they could influence the rollout of mortgages, lending or regulated savings products.
The licence therefore creates the legal foundation for expansion, but individual products may still require additional regulatory steps.
Revolut’s Business Remains Strong Before Lending Expansion
Revolut enters the next phase of its banking strategy with strong financial growth.
The company reported approximately $6 billion in group revenue for 2025.
That represented a 46% increase from around $4 billion a year earlier.
Profit before tax increased 57% to approximately $2.3 billion.
Net profit reached roughly $1.7 billion.
The company also reported a pre-tax profit margin of about 38%.
Customer Growth Continues at a Rapid Pace
Revolut ended 2025 with approximately 68.3 million retail customers.
The company added about 16 million customers during the year.
Customer balances reached approximately $67.5 billion.
Transaction volume increased 65% to roughly $1.7 trillion.
These figures demonstrate why regulators increasingly treat Revolut as a major financial institution rather than simply a fintech payments application.
Wealth and Crypto Revenue Also Increased
Revolut’s wealth division, which includes investment and cryptocurrency-related products, continued growing during 2025.
Revenue from wealth products increased around 31% to approximately $876 million.
That business remains an important part of Revolut’s overall revenue mix.
However, expanding into mortgages, loans and savings could make the company look increasingly similar to a traditional universal bank.
Revolut Also Secured a Full UK Banking Licence
The French approval follows another major banking milestone.
In March 2026, Revolut received its full banking licence in the United Kingdom.
The company had spent roughly three years working through the regulatory process.
The UK licence increased Revolut’s ability to provide products such as deposits, loans and credit in its home market.
That approval was particularly important because Revolut was founded in London and has long considered the UK one of its most important markets.
Revolut Is Also Seeking a U.S. National Bank Charter
Revolut is attempting to expand its banking model into the United States.
The company has applied to the Office of the Comptroller of the Currency for a U.S. national bank charter.
The application followed Revolut’s decision to abandon an earlier strategy of acquiring an existing American lender.
If approved, Revolut hopes to launch a U.S. banking operation in 2027.
U.S. Bank Could Be Based in Connecticut
Revolut U.S. CEO Cetin Duransoy previously said the proposed American bank would be headquartered in Stamford, Connecticut.
The company also plans to maintain an office in New York.
The proposed U.S. banking operation could include:
- FDIC-insured checking accounts
- High-yield investment products
- Multi-currency accounts
- Stock trading
- Crypto trading
- Stablecoin services
Revolut does not plan to build a traditional branch network.
Instead, customers would access cash and banking services through existing ATM infrastructure.
Revolut Already Has Around One Million U.S. Customers
Revolut had approximately one million customers in the United States when its expansion plans were reported.
Many of those users had originally interacted with the service while travelling internationally or living outside the U.S.
A national banking charter would allow Revolut to offer a significantly broader range of American financial products.
The company would also gain more direct control over deposits and lending.
Australia Has Also Approved Revolut as a Bank
Revolut’s regulatory expansion is not limited to Europe and the United States.
The fintech received a full Australian banking licence in July 2026.
That approval expanded its regulated banking footprint into the Asia-Pacific region.
The combination of licences in France, the UK and Australia illustrates Revolut’s strategy of moving from fintech app to global banking institution.
Crypto Regulation Remains Part of Revolut’s Expansion
Alongside traditional banking licences, Revolut continues to seek separate regulatory approval for cryptocurrency services.
This is important because a banking licence does not automatically provide permission to offer every type of digital asset product.
Different jurisdictions often regulate crypto trading and custody separately.
Revolut therefore maintains parallel regulatory strategies for banking and digital assets.
UAE Crypto Approval Moves Forward
Dubai’s Virtual Assets Regulatory Authority gave Revolut in-principle approval in July to advance toward regulated virtual asset services in the United Arab Emirates.
Final authorization could allow eligible users to buy, sell and hold cryptocurrencies through Revolut’s primary app and Revolut X.
The proposed UAE licence covers areas including:
- Virtual asset exchange services
- Broker-dealer activity
- Asset management
- Investment services
Revolut had already received approval from the Central Bank of the UAE for its payments business.
Revolut Holds a MiCA Licence in Europe
Within the European Union, Revolut secured a Markets in Crypto-Assets licence in Cyprus in October 2025.
That approval gives the company a regulatory pathway for providing crypto services across eligible EU jurisdictions.
MiCA has created a unified framework covering exchanges, custody providers and stablecoin-related services.
Revolut has adjusted its products to comply with the framework as European crypto rules have become stricter.
Revolut Is Removing USDT From Eligible European Accounts
MiCA has also affected which stablecoins Revolut can support.
The company told certain European customers that they would have until Aug. 31 to sell or transfer Tether’s USDT.
After that deadline, the stablecoin would no longer be supported in affected accounts.
Tether has not obtained authorization under the MiCA framework.
The development shows how Revolut’s European expansion increasingly depends on compliance with both banking and crypto-specific regulations.
Revolut’s Valuation Reaches $115 Billion
The company’s regulatory progress has coincided with another increase in its private-market valuation.
A secondary employee share sale reported in July valued Revolut at approximately $115 billion.
The transaction reportedly priced shares at $2,017 each.
Because existing shareholders were selling their stock, the transaction did not provide new capital directly to Revolut.
It did, however, establish a new private-market valuation for the company.
Valuation Has More Than Doubled Since 2024
Revolut’s reported $115 billion valuation represents a major increase from previous years.
The company was valued at approximately $75 billion through a 2025 share transaction.
Its valuation stood around $45 billion in 2024.
The latest figure is therefore more than twice the level recorded two years earlier.
The increase reflects strong customer growth, higher profitability and expanding regulatory approvals.
Revolut Says It Now Serves More Than 75 Million Customers
Revolut has said its total customer base has now exceeded 75 million worldwide.
The company operates across approximately 40 markets.
That scale puts Revolut among the world’s largest fintech platforms.
Its continued shift toward fully licensed banking entities could eventually make the distinction between Revolut and traditional global banks much smaller.
IPO Is Not Expected Before 2028
Despite its rising private valuation, Revolut does not appear to be rushing toward an initial public offering.
CEO Nik Storonsky has previously said the company does not expect to pursue an IPO before 2028.
That gives Revolut more time to expand its banking operations and regulatory footprint before entering public markets.
The company could potentially reach significantly greater scale before then.
France Becomes the Center of Revolut’s Western European Expansion
The French banking licence is one of Revolut’s most important European regulatory achievements to date.
France will become the first market served by the new Revolut Bank S.A. entity.
Germany, Ireland, Italy, Portugal and Spain are expected to follow.
The Lithuanian bank will continue serving the remaining EEA markets.
This structure gives Revolut a more regionalized European banking model instead of relying almost entirely on one EU banking entity.
Second EU Banking Hub Could Reduce Operational Concentration
Having two European banking entities could provide several strategic advantages.
Revolut can distribute regulatory and operational responsibilities between France and Lithuania.
It can also create products tailored specifically to Western European markets.
The French entity may eventually allow Revolut to compete more directly with local banks through mortgages, credit and savings products.
At the same time, Lithuania remains an important base for the company’s broader EEA operations.
Revolut Is Moving From Fintech to Global Bank
Revolut began primarily as a digital payments and foreign exchange app.
Its business has since expanded into:
- Banking
- Investing
- Crypto trading
- Wealth management
- Business accounts
- Lending
- Payments
- Savings
The French licence represents another step in that transformation.
Rather than simply partnering with banks, Revolut increasingly wants to operate regulated banking entities itself.
What Happens Next
The first major development will be the migration of French customers onto Revolut Bank S.A.
The company will then begin gradually moving customers from other Western European markets.
Another important milestone will be the launch of locally regulated products such as loans, mortgages and savings accounts.
Any conditions imposed by regulators could determine how quickly those products become available.
The planned opening of Revolut’s Western European headquarters in Paris in 2027 will also signal how much operational activity the company intends to move to France.
Revolut Strengthens Its Position Across Global Banking and Crypto
Revolut’s French banking licence gives the fintech a powerful new regulatory base in Western Europe.
The company can now build locally regulated banking services in France while preparing to serve more than 30 million customers across several major European markets.
At the same time, Revolut continues expanding through banking approvals in the UK and Australia, a proposed U.S. national bank, and separate crypto licences in Europe and the UAE.
With more than 75 million customers and a reported valuation of $115 billion, Revolut is increasingly positioning itself not simply as a fintech company, but as a global digital bank operating across both traditional finance and cryptocurrency markets.
