Country Focus

Revolut gears up for expansion in Singapore and Japan

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.”

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.

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