revolut, blockchain / crypto, fintech, news, singapore

Revolut, the United Kingdom-based financial superapp, on Thursday launched a new cryptocurrency service in Singapore, enabling customers to securely buy, hold and sell cryptocurrencies with the tap of a button.

Revolut is providing all customers in Singapore with more than 80 tokens available via its app, Revolut said in a statement.

As part of its goal to be one of the best places to trade and learn about crypto, Revolut also plans to launch educational courses on cryptocurrency for customers in Singapore in the coming months to advance financial literacy.

Revolut believes in widening access to crypto and also recognises that it may not be appropriate for everyone, so the company encourages customers to research the various cryptocurrencies and evaluate the risks and opportunities before buying or selling.

According to the statement, Revolut cryptocurrency service in Singapore does not apply any hidden fees and applies a 2.5 percent transaction fee for standard customers and a 1.5 percent transaction fee for premium and metal customers.

The exchange process enables customers to convert any 27 fiat currencies or gold(XAU) and silver(XAG) into cryptocurrencies in one easy step, with no foreign exchange fees for transactions within the monthly exchange limit1 for each plan.

Meanwhile, there are several ways to buy and sell crypto on Revolut, and customers can set up a stop or limit order so they don’t have to time the market, or use the recurring buy feature to average out volatility. Customers can also round up any spare change in a cryptocurrency of their choice.

Deepak Khanna, Head of Wealth and Trading Revolut Singapore, said the service makes cryptocurrencies more accessible in Singapore.

“We’re very excited to bring cryptocurrency services to our customers in Singapore in a responsible manner. We plan to provide educational features in the coming months to help customers better understand the trends and risks associated with cryptocurrency. We believe the regulatory strengths in Singapore and proactive industry engagement are key to serving clients with the highest standards,” he said.

Emil Urmanshin, Crypto General Manager at Revolut, said the service has a lot of advantages.

“Trying to navigate your way around traditional exchanges can be incredibly complex, and this process can often exclude people from getting access to cryptocurrency. With Revolut, customers can easily exchange fiat currencies to their choice of cryptocurrencies with the tap of a button,” he said.

Revolut is committed to establishing Singapore as one of the cornerstones of its global business and plans to establish several global product hubs from here. The customer base in Singapore has grown six-fold since the onset of the COVID-19 pandemic, and its revenue run rate has more than doubled in the past 12 months.

Revolut is the world’s global financial superapp, with over 20 million customers around the world use dozens of its innovative products to make more than 250 million transactions a month. In 2015, it launched in the United Kingdom offering money transfer and exchange.

In Singapore, Revolut Technologies Singapore Pte. Ltd. (RTS) holds a major payment institution (MPI) license since October 2020 and offers account issuance services, domestic and cross-border money transfer services and e-money issuance services, which are regulated activities. RTS also offers a precious metals product which is not regulated under the Payment Services Act.

Revolut Securities Singapore Pte. Ltd. (RSS) holds a capital markets services (CMS) license since November 2021 and intends to offer its stock trading product, commencing in 2022.


SUNDAY GOLD Is Announced And Stylish As Ever

Team 17 and BKOM Studios have been cookin’ up something spicy! Sunday Gold is a newly announced dystopian adventure game set in 2070s London. With a premise like that, we really have no reason not to be at least a little interested in what comes next! Players will get ...

View more: SUNDAY GOLD Is Announced And Stylish As Ever

Apple once proposed team-up on for-pay version of Facebook without ads

Apple suggested Facebook create a for-pay version, with Apple getting a cut of the subscription revenue. Image: Ed Hardy/Cult of Mac Apple tried to talk Facebook into creating a version of its social network without adverts, according to a new report. Users would pay a subscription fee and would ...

View more: Apple once proposed team-up on for-pay version of Facebook without ads

Avatar: The Last Airbender Nintendo Switch Listing Surfaces Online

The Newest Sci-fi Shoot Em Up Is In The 1950s

A thrilling shoot ’em up, a rad 1950s aesthetic, and aliens. It seems that the developers at Loomiarts have the perfect concoction with their newest game Squad 51 vs. The Flying Saucers. Boasting an incredibly unique 1950’s visual direction, this shoot ’em up is something you should definitely keep ...

View more: The Newest Sci-fi Shoot Em Up Is In The 1950s

The Best Digital Sheet Music Apps to Make Life Easier for Musicians

Pixel-Shot/ Every musician knows what a hassle sheet music can be. It’s easy to misplace, tear, spill on, and even get back if you lend it out to a friend or student. But with a sheet music app, you can keep all of your sheet music in a central ...

View more: The Best Digital Sheet Music Apps to Make Life Easier for Musicians

Why Soros Fund Is Buying More Stocks In Tech Bigwigs?

The tech world is not living its best days. Of course, technology develops, but because of lack of various semiconductors, the companies have to revise their plans. This hugely affects their stock prices and their value. However, it’s also a big chance for those who have been wishing to acquire ...

View more: Why Soros Fund Is Buying More Stocks In Tech Bigwigs?

What we already know about Apple Watch Series 8

A sporty new Apple Watch model could debut this fall Photo: Graham Bower/Cult of Mac You don’t have to wait until September to get the details on the next-gen Apple Watch. Many of them have leaked out already. Here’s what to expect out of the upcoming Series 8, and ...

View more: What we already know about Apple Watch Series 8

Bitcoin Tops $25K for First Time in 9 Weeks

The price of the biggest cryptocurrency by market cap finally resurfaced above the $25,000 mark—then quickly sank back.

View more: Bitcoin Tops $25K for First Time in 9 Weeks

Over 9,000 VNC servers exposed online without a password

House of Ettore: The Bugatti Château Is Where the Brand's Past Meets Its Present

New study says an explosion of debris from Earth may have given birth to the Moon

iPhone 14 series will fail? Suppliers are not sure about the demand

NFL Preseason 2022: Schedule, How to Watch Vikings vs. Raiders Today

Bitcoin tops $25,000 for first rime since June amid crypto rally

Russia Is Reportedly Developing A Laser Weapon That Sabotages Spy Satellites

The Best Card Games For Two Players of 2022

Clarity on IPR key for success of space startups: Industry leader

Oppo Find N Fold and Find N Flip just tipped to fight Galaxy Fold 4 and Flip 4 worldwide

How capitalism ensnared some of its radical critics

Launch your own online courses with this hosting service deal


Top Car News Car News