key insights:
- Second EU banking hub — France reduces reliance on Lithuania and creates a new base for six Western European markets.
- Lending becomes more important — The licence creates room for mortgages, loans and regulated savings products in France.
- Regulation remains decisive — Any ECB conditions could influence how quickly the company converts its licence into new products.
Revolut has secured a full French banking licence, giving the fintech a second banking base inside the European Union. The Paris operation will eventually serve more than 30 million customers across six major Western European markets.
The European Central Bank approved the licence after a joint assessment with France’s ACPR banking regulator. France will become the first market served by the newly licensed Revolut Bank S.A.
French licence creates a second European banking hub
The approval changes how the company can structure its fast-growing European business. Until now, its Lithuanian banking entity provided regulated banking services across much of the European Economic Area.
France will now anchor a second operation alongside Lithuania. The French entity will initially serve domestic customers before expanding across Western Europe.
Germany, Ireland, Italy, Portugal and Spain will gradually move under the Paris-based operation. Meanwhile, Lithuania will continue covering other EEA markets.
The structure gives European regulators greater local oversight of a business that has expanded rapidly across the continent. It also reduces the company’s dependence on Lithuania as its main EU banking centre.
Revolut already serves around 30 million customers across Western Europe. Nearly eight million joined during the past year alone.
France has become particularly important, with more than seven million customers recorded by early 2026. The company wants that figure to reach 10 million during 2027.
Developments make the approval particularly significant.
- France becomes the fintech’s second fully licensed banking centre within the European Union.
- Lending and regulated savings can become larger parts of its French product portfolio.
- Paris will support expansion across six major Western European banking markets.
Lending opens another route for revenue growth
Revolut can use the licence to expand beyond payments, trading and other fee-driven services in France. It can develop loans, mortgages and locally regulated savings products for French customers.
That opportunity could reshape its revenue mix over time. Traditional lending has remained smaller than payments, wealth products and cryptocurrency activity across the broader business.
The company reported strong growth before receiving the latest licence. Group revenue reached $6 billion during 2025, rising 46% from the previous year.
Pre-tax profit increased 57 percent to $2.3 billion, while net profit reached $1.7 billion. Customer balances climbed to $67.5 billion and transaction volume reached $1.7 trillion.
Business measure Reported figure
Global customers More than 75 million
Western European customers About 30 million
2025 group revenue $6 billion
2025 pre-tax profit $2.3 billion
Customer balances $67.5 billion
Transaction volume $1.7 trillion
Western Europe investment More than €1 billion
Wealth revenue also increased 31% to $876 million. That category includes investment products and cryptocurrency-related activity.
Regulatory conditions remain an important test
The licence does not guarantee an immediate rollout of every planned banking product. Regulatory conditions could influence how quickly mortgages, savings products and other services reach customers.
Bloomberg reported in July that the French operation could face restrictions resembling those applied to the Lithuanian entity. European regulators had previously raised concerns about risk controls and the speed of some product launches.
The company has not disclosed specific conditions attached to its French approval. Therefore, the timetable for introducing some regulated products remains unclear. Still, the company has committed substantial resources to its regional expansion. It plans to invest more than €1 billion and hire over 600 people across Western Europe.
A new Western European headquarters will open in Paris during 2027. The operation will support local product development and closer engagement with regulators.
Former Société Générale chief executive Frédéric Oudéa chairs the Western European board. Béatrice Cossa-Dumurgier leads the region as chief executive.
Global licence push raises the competitive stakes
Revolut has accelerated its regulatory expansion beyond France during 2026. It secured a full UK banking licence in March after a lengthy regulatory process. Australia granted another banking licence in July. The company has also applied for a national bank charter in the United States.
If regulators approve that application, the company plans to launch its American bank during 2027. Its proposed offering includes insured checking accounts, investments and multi-currency services.
Crypto remains another part of the regulatory strategy. The company received in-principle virtual asset approval in Dubai during July.
It also holds a Markets in Crypto-Assets licence from Cyprus. That approval provides a regulatory route for eligible cryptocurrency services across European markets.
Meanwhile, the company’s private valuation has climbed sharply. A July secondary share sale valued the business at $115 billion.
That represented a 53% increase from its $75 billion valuation during 2025. It also exceeded twice the $45 billion valuation recorded in 2024.
Conclusion
Revolut now has a regulatory platform capable of supporting a broader banking business across Western Europe. France gives the company greater capacity to localise services while developing lending and savings products.
However, execution will determine how quickly that regulatory advantage becomes commercial growth. The next challenge involves transferring customers while meeting tighter supervisory expectations across several major markets.
