Revolut has been granted a full banking licence by French authorities, a milestone that speeds its expansion across Europe.

The London‑based fintech announced the approval after assessment by the ACPR and the European Central Bank. The licence allows Revolut to offer a wider range of loans, mortgages and savings products to French customers, and supports its plans to invest €1bn, hire roughly 600 staff in Western Europe, and open its European headquarters in Paris.

French regulators had urged the group to secure a licence to improve oversight of its operations, which are among the largest in Europe and serve 7mn customers. The move follows a 2018 European banking licence from Lithuanian authorities and follows regulatory concerns about risk and compliance controls.

Revolut’s founder and CEO Nik Storonsky said France’s robust regulatory framework makes it an ideal platform to accelerate growth and bring the company closer to becoming one of Europe’s largest and most trusted banks. The approval comes amid ongoing discussions about a possible public listing in 2028 and a secondary share sale that values the firm at $115bn.