Fintech startup Revolut pushed its services to the public in Singapore, a year after its licensing in the country as the APAC headquarters.
Revolut signed 30,000 customers in Singapore since its beta launching last year, allowing its users to withdraw up to S$350 each month at international ATM machines for free.
Singapore residents can transfer money overseas, anywhere in the world with Revolut’s no hidden fees, while on top of that — can hold and exchange over 14 currencies within the app.
Revolut will triple its workforce in Singapore as the APAC headquarters — it is now available in the UK, Europe, and Australia, with plans to launch in the US and Canada before the end of the year.
Eddie Lee, Revolut’s 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 $7bn overseas. For the most part, these are ordinary, hardworking people who are unaware that their existing providers are charging them as much as five per cent in fees.”