Revolut has obtained a full banking licence approved by the European Central Bank, marking a significant step in its continental expansion following earlier regulatory friction.

The $75 billion fintech, currently conducting a secondary share sale that could value it at $115 billion, announced on Monday that its European arm will accelerate its push across the continent under a new permit issued by French regulators. A full banking licence enables Revolut to offer a broader range of services under EU deposit guarantee protections and deepens its regulatory foundation in the bloc — a strategic priority for UK-based fintechs navigating post-Brexit constraints on passporting rights into the European single market.

The company will begin serving customers in France, with plans to expand into Germany, Ireland, Italy, Portugal, and Spain in subsequent phases. Revolut operates in Europe through two entities: Revolut Bank S.A., the unit that received the French licence, and Revolut Bank UAB, based in Lithuania. Together, they serve more than 30 million customers across Western Europe. The phased rollout positions Revolut to compete more directly with both incumbent banks and rival neobanks across several of the eurozone's largest retail banking markets.

Revolut founder Nik Storonsky said: "This licence gives us the foundation to build the next generation of banking… France has become a leading financial hub, supported by a dynamic financial ecosystem and a robust regulatory framework."

Last year, the British fintech designated Paris as its Western European headquarters, accompanying a major €1 billion investment and a commitment to create over 200 jobs in the country. London continues to serve as the group's global base.

Revolut Strengthened Product Launch Process Following ECB Intervention

The new approval comes after Revolut faced regulatory action from the European Central Bank last year, when restrictions were imposed on its operations across the continent. The regulatory scrutiny reflects a broader pattern across Europe's digital banking sector, where fast-growing neobanks have faced pressure to strengthen governance and compliance frameworks as they scale.

The fintech had its authorization to launch new products across the 27 countries of the European Economic Area temporarily suspended last summer. The ECB instructed the bank to address "deficiencies" in its European approval process and ordered a third-party review of its risk, compliance, and legal functions for new product launches.

Revolut was also barred from making acquisitions or accepting new customers outside Europe under the restrictions.

According to reports, Revolut Bank UAB has since implemented numerous improvements to its internal product launch procedures over the past year, including strengthening the review process with internal experts and bank governing bodies.

Responding to the ECB intervention, first reported by the Financial Times, a Revolut spokesperson said: "We are in continuous and constructive dialogue with our regulators, including the European Central Bank, as part of our normal course of operations as a fully licensed bank."

The digital bank originally secured a European specialised banking licence from the Bank of Lithuania in 2018 and later upgraded to a full European banking licence in 2021. The addition of a dedicated French licence, supervised by the Autorité de contrôle prudentiel et de résolution (ACPR), provides Revolut with a second regulatory anchor in the eurozone and a platform for launching products across Western European markets without relying solely on its Lithuanian entity.