A&O Shearman advises Revolut on obtaining French banking license

A&O Shearman advised Revolut on all regulatory and legal aspects of the licensing process, including the assessment of available regulatory frameworks, the structuring of its French banking operations and the management of the authorisation authorization process before the Autorité de contrôle prudentiel et de résolution and the ECB, with the decision adopted by the ECB Governing Council.

The license marks a significant milestone in Revolut’s continued expansion across Western Europe. Revolut Bank S.A. will progressively roll out its banking services across the region, beginning with France and extending to other key markets, including Germany, Ireland, Italy, Portugal, and Spain. Revolut has also announced plans to invest more than EUR1 billion in the region, create over 600 jobs, and establish its Western European headquarters in Paris by 2027.