London-based digital banking venture Revolut has acquired a remittance license from the Monetary Authority of Singapore and full authorisation from Japan’s Financial Services Agency.
The company, which offers users a prepaid debit card and a current account, as well as premium features like cryptocurrency trading, intends to launch its platform in the Asia-Pacific (APAC) region in Q1 2019.
It also wants to roll-out its banking app in the US, Canada, Australia and New Zealand.
“We have confidence that we will continue to be a driving force as we expand globally, developing a range of exciting new services for increasingly connected consumers in APAC,” says Revolut Chief Executive Nikolay Storonsky.
“It’s a huge market and we’re already seeing an incredible amount of people demanding our product.”