Revolut, a European neobank focused on crypto, has announced plans to invest over $1 billion in France and apply for a local banking license. This initiative, revealed during the Choose France business summit hosted by President Emmanuel Macron, aims to solidify Revolut's presence as it establishes its EU headquarters in Paris and commits to hiring at least 200 people in the next three years. With approximately 300 existing employees and around 5 million customers in France, the country stands as Revolut's largest EU market. The company aims to onboard 10 million users by the end of the next year and double that by 2030. Having recently achieved a valuation of $45 billion, Revolut also boasts over 55 million customers globally. As it expands, Revolut is pursuing licenses in various jurisdictions and has already acquired a license in India for prepaid payment instruments. The firm operates under a banking license obtained in Lithuania since late 2018, enhancing services across the European Economic Area.

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