Revolut launches crypto services in Singapore

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.

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 over 20 million customers worldwide and facilitates 250 million monthly transactions.

Revolut said its user base in Singapore has jumped 6x since the pandemic outbreak 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.

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