Overview
- Revolut announced that French regulators and the ECB approved its banking licence, giving the company full banking status in France and the ability to operate under French law.
- The approval allows Revolut to migrate French customer accounts into a French entity and to offer regulated products such as Livret A‑style savings and mortgage loans protected by the Fonds de Garantie des Dépôts et de Résolution.
- Revolut, which announced the approval on Monday, August 10, 2026, said it will install a Paris regional headquarters, begin phased account repatriation and roll out new retail banking products across Western Europe.
- The firm named Frédéric Oudéa as chair of the new French board, pledged more than €1 billion of investment in France and Western Europe, and said it will hire hundreds of staff to boost customer service and compliance teams.
- The licence is part of a two‑pole European model that keeps a Lithuanian hub for other EEA operations and aims to shore up regulatory credibility after past compliance concerns while the group continues to seek further licences such as in the United States.