France's banking regulator ACPR and the European Central Bank (ECB) have granted Revolut a full banking license in France, the company announced. Until now, Revolut has operated its EU business under a Lithuanian banking license.

According to the company, customers in Western Europe will gradually be transferred to the French entity, starting with France and followed by countries including Germany, Ireland, Italy, Portugal and Spain.

For Revolut's approximately 1.2 million customers in Switzerland, nothing will change, the company told finews in response to an inquiry.

New Headquarters in Paris

Last year, the company committed to investing more than 1 billion euro in Western Europe. Revolut has now announced plans to hire more than 600 employees, 400 of whom will be based at its new Western European headquarters in Paris, which is expected to become operational next year.

Revolut, which received a UK banking license only last March following a lengthy approval process, is one of the world's most valuable fintech companies. In a recent secondary share sale by existing shareholders to investors, the company was valued at 115 billion dollar. This compares with a reported profit of 1.5 billion dollar for 2025.

Rapid Growth

Revolut serves 75 million customers worldwide. Western Europe, with around 30 million customers, is its largest and fastest-growing region, according to the company. Last year alone, the bank added almost eight million customers across these markets.

In June, the «Financial Times» reported that the ECB had raised concerns about Revolut the previous year. According to the report, regulators were concerned about the company's rapid growth and had called for improvements to its internal processes for launching new products.