Finance
Revolut Aims to Secure French and US Licences This Year, Western Europe CEO Says
Published by Global Banking & Finance Review®
Posted on April 22, 2026
3 min readLast updated: April 22, 2026
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Revolut is advancing plans to obtain banking licences in France and the U.S. in 2026, aiming to deepen its localised product offerings and drive growth in key markets via its new Paris HQ and a standalone U.S. charter strategy.
Revolut Targets French and US Licences to Accelerate Global Expansion
Revolut's Strategy for International Growth
By Elizabeth Howcroft and Elisa Martinuzzi
Licensing Ambitions in France and the United States
PARIS, April 22 (Reuters) - Revolut hopes to secure licences in France and the United States this year, its CEO for Western Europe said, which are key markets for accelerating the bank's growth as it seeks to compete with established lenders.
Benefits of French Regulation
Being regulated in France would allow Revolut to offer services tailored to local customers including loans, Paris-based Béatrice Cossa-Dumurgier told Reuters.
Revolut has pledged to spend $1.1 billion on expanding in France, and recently signed a 10-year office lease in the historic Bourse neighbourhood of the French capital.
Shifting Business Model and Product Expansion
The London-based company, whose profit has previously been driven by fee income and crypto, is looking to increase its lending and other products after gaining backing by British regulators in March to become a fully fledged UK bank.
Local Product Offerings
"If we want to definitely become the primary bank for all of our customers, we need to expand the product offering and have these local products that meet these types of needs," Cossa-Dumurgier said, referring to mortgages and regulated savings products, such as France's Livret A.
Customer Growth and Regulatory Considerations
Western Europe accounts for around a third of the customers currently signing up to Revolut, Cossa-Dumurgier said, with growth stemming from commission income not lending.
European Passporting and US Ambitions
Although Revolut can offer banking services to clients in the European Union by "passporting" its Lithuanian licence, being regulated in France, Germany or Britain helps in obtaining a U.S. licence, its CEO Nik Storonsky has said. A U.S. bank charter would also allow Revolut to substantially increase its customer numbers.
Status of French Licence Discussions
Cossa-Dumurgier said that discussions with France's banking regulator, ACPR, about the licence were "advanced".
"Hopefully, yes. But we don't know and I don't want to push," she said when asked if it was possible for 2026.
Unlike New Zealand and Australia, regulators in France do not link their licence decision to the UK process, she added.
Company Background and Market Position
Revolut, which was founded in Britain in 2015, does not have any physical branches and is the largest of a number of so-called "fintechs" launched in the 2010s with a $75 billion valuation tag in a share sale last year.
Valuation and Comparison with Traditional Banks
That placed Revolut on par or ahead of some of the bigger banks in Europe in terms of value. Societe Generale, France's second-biggest listed lender, has a market value of 54 billion euros ($63.3 billion).
Regulatory Challenges
Revolut's rapid expansion has also involved run-ins with regulators. Italy fined the bank $13 million earlier in April, saying it made misleading statements about its investment services. Revolut said it disagreed and planned to appeal.
($1 = 0.8529 euros)
(Reporting by Elizabeth Howcroft; Editing by Alexander Smith)
Key Takeaways
- •Revolut aims to secure a French banking licence in 2026 to deliver tailored loans and regulated savings products like Livret A, complementing its €1 billion ($1.1 billion) expansion plan and Paris Western Europe headquarters commitment (lemonde.fr).
- •The company is pursuing a de novo U.S. national bank charter through the OCC and FDIC, dropping acquisition routes in favor of building a digital-only U.S. bank—Revolut Bank US, N.A.—to access federal deposit insurance and directly participate in U.S. payment systems (forbes.com).
- •This dual-licence push reflects Revolut’s strategy to deepen its presence in Western Europe—via physical HQ and product localisation—and prepare for scale in the U.S., reinforcing its transition from neobank to full-service digital bank in major global markets.
References
Frequently Asked Questions about Revolut aims to secure French and US licences this year, Western Europe CEO says
1Why does Revolut want a banking licence in France?
Revolut seeks a French banking licence to offer tailored local products like loans and regulated savings accounts and to accelerate growth in the country.
2How much is Revolut investing in its expansion in France?
Revolut has pledged to spend $1.1 billion on expanding its presence in France.
3What would a US bank charter allow Revolut to do?
A US bank charter would allow Revolut to substantially increase its customer numbers by offering regulated banking products in the United States.
4What challenges has Revolut faced with regulators?
Revolut has faced regulatory scrutiny and was recently fined $13 million in Italy for allegedly making misleading statements about investment services.
5How does being regulated in France help Revolut's US ambitions?
Being regulated in France aids Revolut when applying for a US banking licence, as robust regulation in major markets is viewed favorably by US authorities.
