30,000 Singaporeans were on the waitlist
The Revolut global community launches in Singapore, increasing its members count to 30,000 new persons. As long as it’s their first entry into the Asian region, they claim to create new workplaces and improve the investment climate of the area.
From now on, Revolut Singapore customers will obtain the possibility to make the transactions from other Revolut users in Singapore, the United Kingdom, Europe, and Australia – at once and without any additional payments. They will also be able to use all the Revolut features, including making purchases worldwide at the real exchange rate, carry out in-app currency exchange, including Singapore Dollar, US Dollar, Australian Dollar, British Pound, Euro, Thai Baht, etc.
According to the fact that every new market follows its own rules and regulations, Revolut has faced some challenges as well as surprises during its launch in Singapore. The bank says it was hard to get used to how things work there in Singapore, speaking of collective personality and local customs. Moreover, due to regulatory requirements and localizing issues, they needed to implement some changes to the product.