Samreen Ahmad · · 1 min readFintech unicorn Revolut gets MAS nod for crypto trading
The Monetary Authority of Singapore (MAS) has greenlit Revolut, a UK-based fintech unicorn, to operate a fully regulated cryptocurrency service within its app, Fintechnews Singapore reported.
The Revolut app will now support the buying, selling, and holding of cryptocurrencies, pushing the company a step closer to becoming a super app for financial services.
The company said its user base in Singapore has increased 6x since the pandemic outbreak and its revenue run rate has more than doubled over the past 12 months.
In December 2021, the fintech firm received a capital markets services license from the MAS to launch a stock-trading feature in Singapore. The company also appointed Lazada co-founder Charles Debonneuil as its Asia-Pacific general manager to oversee the firm’s growth in the region.
See also: Asia a ‘high priority’ for Revolut following mammoth $500m fundraise
Editing by Deepti Sri and Arpit Nayak
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