Revolut begins its expansion to the Asia-Pacific region
- Asian Market
- 1 month ago
London-based Revolut, the British mobile bank, has been given the green light to expand its services to Japan and Singapore.
The British firm stated on Thursday that the Monetary Authority of Singapore and Japan’s FSA both consented in issuing the permit to begin operations, making Singapore its HQ for the region.
Revolut will launch its platform within the Asia-Pacific sector by the beginning of 2019 and it intends to further expand to the U.S., Canada, Australia and New Zealand.
Chief Exec Nikolay Storonsky said: “We have confidence that Revolut will continue to be a driving force as we expand globally, developing a range of exciting new services for increasingly connected consumers in APAC (Asia-Pacific),” adding, “It’s a huge market and we’re already seeing an incredible amount of people demanding our product.”
With a current value of $1.7 billion and backers like DST Global Index Ventures its no surprise more than 50,000 people have joined the waiting list to create their account with the firm.
Source: Smart Trend Team