Revolut secures full French banking license from ECB and ACPR
Revolut has secured a full French banking license, jointly approved by the ECB and French regulator ACPR. It gives Revolut a second EU banking base alongside its Lithuanian one, with a new Paris headquarters planned for 2027 and a phased customer rollout starting in France.
Revolut has secured a full French banking license, following a joint assessment by the European Central Bank and the French prudential regulator ACPR. The license gives Revolut a second banking base inside the EU, alongside its existing Revolut Bank UAB entity in Lithuania, in what the company describes as a dual-hub model, with both banks answerable to their national supervisor as well as the ECB. Revolut plans a new Western Europe headquarters in Paris for 2027, having already signed a ten-year lease in the city's Bourse district, chaired by Frederic Oudea with Beatrice Cossa-Dumurgier as CEO for Western Europe. Customers will be migrated in phases, starting in France and followed by markets including Ireland, Germany, Italy, Spain and Portugal. Moving from a Lithuania-based passporting model to a full local license lets Revolut design regulated products such as loans and savings accounts market by market, a structural shift that puts it in more direct competition with traditional euro-area banks rather than operating as a foreign fintech under freedom-of-services rules. Per Reuters, Techfundingnews.