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The United British digital banking Giant Revolut LTD has announced plans to invest over EUR 1 billion ($ 1.1 billion) in France in the next three years, and is also preparing for a French banking license.
This step is part of the wider FINTECH strategy to strengthen its presence throughout Europe and build deeper roots on its fastest growing markets.
The announcement came during the Summit Chop Summit Business Summit in Paris on Monday, organized by President Emmanuel Macron, according to A message from the agency agency.
Revolut to establish a headquarters in France
Revolut said he would set up his new Western European headquarters in the French capital and commit to hiring at least 200 other employees during the investment period.
The company is in the process of submitting an application to the French banking regulatory body, the Office for Supervision and Resolution in the field of Solution (ACPR).
The guard dog encouraged this step to improve regulatory supervision, especially because France is now representing the largest user base in the EU.
Currently, Revolut has approximately 300 employees in France and 5 million users with targets to increase to 10 million by 2026 and 20 million by 2030.
The company already offers its French customers loans, cryptocurrency services and business products.
Revolut was founded in 2015 and has grown to one of the largest companies FineTech worldwide with 55 million customers and workforce of about 10,000.
It Last year reported income of $ 4.1 billion And he was last appreciated about $ 45 billion.
A large part of this growth has appeared despite the lack of full banking licenses in the main markets, which was acknowledged by the CEO Nik Storonsky as a strategic supervision.
While Revolut has a limited license in the UK and a full European banking license through Lithuania, the company is now monitoring a banking permit in 10 other countries.
Recently, it has been licensed for prepaid payment tools in India and is soon planning to start operations in Mexico.
In addition to Europe, Revolut is expanding throughout southern Europe, Nordics, the Middle East and Asia and the Pacific to consolidate its position as a global financial platform.
Revolut is launching a crypto trading platform Revolut X
In May last year, Revolut presented its separate platform for trading in a crypt called Revolut XMeals for retail customers in the UK.
At that time, the company said it proposed a new platform that could compete with leading cryptometers by providing easy fastening/off-ramp and low fees.
Although the Revolut X is initially focused on professional traders, it is accessible to all users of the United Kingdom with a revolution retail account.
Revolut X traders can participate in more than 100 token with fixed fees for 0% for manufacturers and 0.09% for recipients, regardless of the volume of trading.
Revolut’s introduction of revolut x came after Opening Ramp Revolut in MarchThis allows users to buy crypto directly in their web3 wallet through a partnership with Metamask Consensys developer.
In November the company expanded his cryptocurrency Revolut x Serve customers in 30 other European countries.
Contribution Revolut Invest $ 1.1b in France, Eyes Local Banking License He appeared for the first time Cryptonews.
