Revolut, a UK-based fintech unicorn, has launched crypto services in Singapore, allowing users to buy, hold, and sell more than 80 crypto tokens on its app.
Photo credit: Revolut
In a statement, the company said that it charges crypto transaction fees of 2.5% for users on its free tier and 1.5% for its paid subscribers. Revolut said it also wants to launch educational courses on crypto for its Singapore users.
Founded in 2015 as a money transfer and exchange provider, Revolut expanded to the city-state in 2020. It currently serves more than 20 million customers across the world and facilitates 250 million transactions every month.
Revolut said its user base in Singapore has jumped 6x since the outbreak of the pandemic and its revenue run rate has more than doubled over the past 12 months.
Earlier this year, the firm picked Lazada co-founder Charles Debonneuil as general manager for the Asia-Pacific region.
Editing by Miguel Cordon and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
