Revolut is setting up a second European banking hub after receiving a full licence in France.

Revolut Bank S.A. secured the approval following a joint assessment by French banking regulator Autorité de Contrôle Prudentiel et de Résolution and the European Central Bank (ECB).

The ECB Governing Council formally adopted the decision.

The new entity will begin serving customers in France before expanding to Germany, Ireland, Italy, Portugal and Spain.

Nik Storonsky, Founder and CEO of Revolut, 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.”

Close to 8 million customers joined Revolut across Western Europe in 2025.

The company has committed to investing more than €1 billion in the region and is hiring over 600 people.

It also plans to open its Western European headquarters in Paris in 2027.

Its Lithuanian entity will continue serving customers across the rest of the European Economic Area.

The French and Lithuanian entities will form Revolut’s dual-hub banking structure in Europe, with both supervised by the ECB and their respective local authorities.

Revolut Bank is chaired by former Société Générale CEO Frédéric Oudéa, while Béatrice Cossa-Dumurgier serves as CEO for Western Europe.

Featured image: Edited by Fintech News Switzerland, based on image by rajacuann via Magnific