Revolut is planning to invest over $1.1 billion in France and apply for a local banking license.

BlockBeats News, May 19th, according to Cointelegraph, Revolut plans to invest over 1 billion euros (approximately 1.1 billion US dollars) in France and apply for a local banking license.

A representative of Revolut announced this plan at a business summit hosted by French President Macron in Paris earlier this week. The London-based neobank also plans to establish its new headquarters serving the European market in Paris, committing to invest 1 billion euros over three years and hiring at least 200 people.

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