Key facts
- Revolut has obtained a full banking license.
- The license was granted by the European Central Bank.
- French regulators also granted the license.
- This enables Revolut's European arm to expand services and products across the EU.
- The expansion will start in France.
Fintech firm Revolut has achieved a significant milestone with the acquisition of a full banking license, granted by both the European Central Bank and French regulators. This authorization empowers Revolut's European operations to broaden its service and product offerings across the entire European Union. The expansion initiative is slated to commence in France, signaling a strategic move for the company's growth within the EU. The new license permits Revolut to offer a more comprehensive suite of financial services, including deposit accounts and loans, to its customer base within the EU. This development is a crucial step in Revolut's ongoing efforts to solidify its presence and competitive position in the European financial landscape.