UK-based Revolut secures Singapore and Japan payments licences

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Executive Summary

  • UK payments fintech company Revolut has been granted payments licences in Singapore and Japan.

Details

  • Revolut has been granted a Remittance Licence and Stored Value Facility approval by the Monetary Authority of Singapore (MAS) and a Fund Transfer Licence by the Japan Financial Services Agency (FSA).
  • It is one of very few international companies to have secured Japan’s Fund Transfer Licence.
  • Revolut says its Asia-Pacific headquarters will “most likely” be in Singapore.
  • Revolut provides customers with various payments facilities – including a pre-paid debit card.
  • Revolut was founded in 2015.
  • Revolut has been building a customer wait list whilst waiting to secure its licences and says it has over 50,000 people now signed up on the wait list in APAC.
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Published
Categorized as UK