Revolut Secures French Banking Licence to Bolster Western European Push
The fintech has won approval from France's ACPR and the European Central Bank as it expands its regulated presence across Western Europe.
AfroEuropa Newsroom
AfroEuropa desk
Revolut has obtained a banking licence in France, the company announced, as part of an effort to strengthen its regulatory footing across Western Europe, which it describes as its fastest-growing region. According to Tech.eu, the approval came from France's banking regulator, the ACPR, and the European Central Bank.
The fintech already holds a European banking licence issued through authorities in Lithuania, which permits it to offer loans in markets including France, Germany and Spain. Revolut said the Lithuanian licence would remain central to its operations in other EU countries. The company said the additional French licence is a prudent step given it has roughly 30 million customers in Western Europe and is broadening its range of products and services there, including locally tailored offerings such as loans.
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