Revolut is all set to Start Its Services in Japan and Singapore by 2019

Revolut, the London-based Fintech Company will likely start its operations in the Asian region for the first time. After it obtained a license, the company has got a green signal to operate in Japan and Singapore. The services are expected to be rolled out by Q1 2019.

For the Singapore launch, the company obtained a Remittance License by the Monetary Authority and was approved to set up a Stored Value Facility. While in Japan, the Finance Services Agency gave permission to carry out the operations.

Revolut stated that the new approvals will allow the company to launch services in Japan and Singapore but the two countries will not get all the features since laws vary from country to country.

The company will target the electronic wallet and payment card during the launch. Customers will not be allowed to purchase cryptocurrencies, open business accounts and more. Even with local currencies the limit will be almost similar.

According to Revolut, it has already signed deals with three Japanese companies, i.e. Toppan, Rakuten, and Sompo Japan Insurance (SJNK); seems like there will be the introduction of new insurance products, special card designs and more.

In Singapore, the company intends to open its APAC office. Now, it will be great to see the company’s presence outside the European sub-continent.