> ## Content Index
> Fetch the complete content index at: https://www.theglobalbanker.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# ECB curbed Revolut's EU product launches last year over approval failures, FT reports
- URL: https://www.theglobalbanker.com/ecb-curbed-revolut-s-eu-product-launches-last-year-over-approval-failures-ft-reports/
- Published: 2026-06-10T10:15:42.000Z
- Updated: 2026-09-28T23:30:01.000Z
- Description: The ECB temporarily withdrew Revolut's permission to launch new products in the EEA in July 2025 and ordered a third-party review of its product-approval functions, according to the Financial Times.
- Author: TGB Editorial Team
- Tags: Regulations, Europe

The European Central Bank temporarily withdrew permission for Revolut's European banking arm to launch new products in the European Economic Area in July 2025, until it remedied deficiencies in its product-approval process, the Financial Times reported on 9 June 2026\. The restrictions had not previously been made public.

#### THE ECB'S MEASURES

According to the report, the curbs were communicated to the board of Revolut Bank UAB, the fintech's European entity, as the company was preparing a share sale that valued it at $75 billion. The ECB ordered Revolut to commission a third-party review of the risk, compliance and legal functions governing new product launches in Europe, and to assess the staffing levels, skills and independence of those approval functions.

The regulator also required future products to secure sign-off from in-house experts and urged the board to weigh the effect of new launches on group capital and liquidity. Tighter restrictions applied outside the EEA, where the European entity was barred from onboarding new customers or making acquisitions.

The measures cut across the approach of co-founder and chief executive Nik Storonsky, who has praised the company's staff as "self-guided missiles" given the freedom to develop and launch products quickly with limited oversight. According to the report, it is unclear whether all the restrictions remain in effect; over the past year Revolut has launched mortgages and teen accounts in Europe and opened a physical store in Barcelona.

#### REVOLUT'S RESPONSE

"We are in continuous and constructive dialogue with our regulators, including the European Central Bank, as part of our normal course of operations as a fully licensed bank," Revolut said. "Revolut is committed to the highest standards of governance and risk management. In line with supervisory expectations, we regularly strengthen our internal control environment and operational processes."

Revolut's European operations are supervised by the ECB and the Bank of Lithuania, which granted it a European banking licence in 2018\. The company, which serves about 75 million customers, secured a full UK banking licence in March 2026.