Revolut Bank S.A., an entity of global fintech company Revolut, has received a full banking license from the European Central Bank (ECB), following an assessment conducted jointly by the ECB and the French Prudential Supervision and Resolution Authority (ACPR).

 

 

Announcing the receipt of the license in a press release on Monday, Revolut said the approval creates a foundation for the company to better serve its clients in Western Europe while maintaining the highest regulatory and operational standards. The company added that the license supports its goal of becoming one of Europe’s largest and most trusted banks.

 

Commenting on the license, Nik Storonsky, Revolut’s founder and CEO, said, “This licence gives us the foundation to build the next generation of banking for more than 30 million customers across Western Europe.”

 

“France has become a leading financial hub, supported by a dynamic financial ecosystem and a robust regulatory framework. It is the ideal platform to accelerate Revolut's next phase of growth, bringing us one step closer to our ambition of becoming one of Europe's largest and most trusted banks.”

 

With the approval, Revolut, through its French entity Revolut Bank S.A., can now operate as a fully authorized local bank in France and provide a full range of banking services.

 

Revolut currently serves more than 75 million customers across more than 40 countries globally, with Western Europe representing one of its largest and fastest growing markets.

 

The company plans to reach 100 million customers across 100 countries by mid 2027. According to the company, Revolut Bank S.A. will progressively expand its operations across Europe, starting with France.