Revolut has started offering cryptocurrency services to users in Singapore, the global fintech firm said on Thursday.

See related article: How a market slump may be helping Singapore’s stance against retail crypto

Fast facts

  • Revolut will levy transaction fees of 2.5% and 1.5% on standard and premium plans, the company said in its statement.
  • Customers can convert any 27 fiat currencies or Gold (XAU) and Silver (XAG) into cryptocurrencies, Revolut said.
  • An additional 0.5% exchange fee will be charged when standard and premium users exceed SG$5,000 (US$3,634) and SG$15,000 ( US$10,902) respectively, worth of transactions in a month, the company said.
  • Revolut, with more than 20 million customers worldwide, said its customer base in Singapore has grown sixfold since the onset of the COVID-19 pandemic in January 2020, while its revenue run rate has more than doubled in the past 12 months.

See related article: Singapore warms up to crypto industry — on its own terms