Revolut launches fintech services in Singapore

From today (October 24) Revolut has launched its services in Singapore.

Revolut also enables Singapore residents to transfer money overseas at the real exchange rate, and without hidden fees.

Eddie Lee, head of operations for Asia-Pacific, said: “The average Singapore resident travels about seven times a year, and at the same time, they are transferring up to $7 billion overseas.

“For the most part, these are ordinary, hard working people who are unaware that their existing providers are charging them as much as five percent in fees.”

Revolut customers in Singapore will be able to send and request money from Revolut customers in other countries.

Aside from Singapore, Revolut is currently available in the UK, Europe and Australia, with plans to launch in the US and Canada later this year.

In 2018, Revolut set up its Asia-Pacific hub in Singapore, where the London-based fintech now employs 20 people. Revolut is planning to triple its headcount in Singapore in the coming months.

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