Revolut secured a full French banking license on Monday, becoming one of the few digital banks operating two separate EU banking entities. The European Central Bank approved the license following a joint review with France’s banking supervisor. Revolut Bank S.A. will initially serve French customers before expanding to Germany, Ireland, Italy, Portugal and Spain, while its existing Lithuanian bank continues covering the rest of the European Economic Area.
The move intensifies competition for retail brokers, as Revolut already offers CFD trading across 29 countries plus stocks, ETFs and crypto to its 75 million global customers. The French entity will be led by Beatrice Cossa-Dumurgier, with former Societe Generale chief Frederic Oudea chairing the board. However, regulatory challenges persist—the ECB reportedly restricted Revolut’s Lithuanian operation from launching new products in July 2025 after identifying compliance weaknesses. Bloomberg suggests similar restrictions may apply to the French bank, though Monday’s announcement did not confirm this.
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Brokers should monitor whether ECB product restrictions remain in force, as any lifted limits could accelerate Revolut’s expansion into competing trading services across major European markets.
Source: Finance Magnates