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Revolut Launches Cryptocurrency Service in Singapore

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Revolut, a leading global banking app, has introduced a new cryptocurrency service in Singapore. Allowing users to buy securely, keep, and sell cryptocurrencies. Through its app, more than 80 tokens are accessible. In April this year, Revolut received preliminary authorization from the Monetary Authority of Singapore (MAS) to run a fully regulated cryptocurrency service.

Revolut Offers Numerous Options

There are numerous options to buy and sell cryptocurrency on Revolut. Instead of trying to time the market or use the Recurring Buy option to smooth out volatility, customers can set up a stop or limit order. Any spare change can also be rounded up in the cryptocurrency of their choice. Revolut said that it does not charge additional fees than a transaction cost of 1.5 percent for Premium and Metal customers and 2.5 percent for Standard customers. Customers can trade any 27 fiat currencies, as well as gold (XAU) and silver (XAG), into cryptocurrencies using the exchange procedure. There are no foreign exchange fees for transactions that stay within each plan’s monthly exchange cap.

Revolut Promoting Financial Literacy

To promote financial literacy, Revolut also intends to introduce cryptocurrency teaching programs for customers in Singapore in the upcoming months. Revolut urges consumers to investigate the various cryptocurrencies and weigh the risks and potential before purchasing or selling. The company believes in democratizing access to cryptocurrency but might not suit everyone. To help individuals make better use of their money, Revolut is creating the first genuinely worldwide financial super app. Revolut began operating in the UK in 2015 and offers money exchange and transfers. Today, more than 20 million clients utilize Revolut’s cutting-edge services to complete more than 250 million monthly transactions.

   
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