In Singapore, Revolut has started a cryptocurrency service. Despite the slump, several companies have shown unflinching faith in the market.
Singapore has lately lacked clarity over the limits that are meant to be enforced in the crypto market.
Some businesses have been badly harmed as a result of the carnage, while others have persevered with their growth ambitions.
BlackRock, an investment management firm, has partnered with Coinbase to provide bitcoin access to its customers.
In a similar spirit, Revolut has launched its cryptocurrency service in Singapore. In addition, Revolut intends to boost its staff by 20%.
The Fintech firm is currently approved by the Singapore Monetary Authorities
According to the firm, the conversion procedure would enable consumers to convert 27 fiat currencies, gold, or silver into cryptocurrency in a single step without incurring any foreign exchange costs.
Customers’ fees are determined by the tier to which they belong.
Clients in the Standard tier, for example, would be charged a 2.5 percent transaction cost, but Premium and Metal customers would be charged a 1.5 percent fee.
Revolut launches cryptocurrency service in Singapore, enabling customers to buy, hold and sell cryptocurrencies instantly via Revolut app https://t.co/cyY9UhM7mq
— DJ Peter Vas (@PeterVas6) August 4, 2022
Customers may buy, sell, or hold more than 80 tokens using Revolut
Revolut’s app enables investors to store, acquire, and trade over 80 tokens. The Fintech business also intends to provide educational services to consumers in order to help them have a better grasp of the whole sector.
Revolut plans to concentrate on market trends as well as the hazards involved with cryptocurrency trading.
Furthermore, Revolut acquired significant popularity during the pandemic, which increased its client base by six times and helped the firm treble its income in the previous year.