Revolut to roll out across Asia Pac early 2019
(1 December 2018 – Singapore) UK fintech Revolut has announced it will start operating in the Asia-Pacific early next year with Singapore as its base.
Revolut has already been granted licences for Singapore and Japan and has hired key personnel to ensure a smooth roll out.
The London-based fintech noted that it is in its “final stages of testing” its services, adding that it has almost 50,000 customers in the Asia-Pacific on its waiting list.
Revolut allows users to spend overseas in around 150 currencies with no fees. Users can also hold and exchange 24 currencies within the app and send free domestic and international money transfers with the real-time exchange rate.
Chief executive and founder Nik Storonsky said Revolut is confident that it will disrupt the way banks traditionally function across the region through its use of technology and innovation.