Revolut, a serious European cryptocurrency-friendly buying and selling utility is increasing to a different main market.
The London-based agency has launched its digital banking app in Japan, as Revolut introduced in a Sept. eight tweet.
In line with a report by The Nikkei, Japan is the primary non-English talking marketplace for Revolut. Headquartered in London, the corporate reportedly has 13 million customers worldwide, working in European international locations, america, Australia and Singapore.
As reported, Revolut’s preliminary roll out in Japan will likely be restricted to “worldwide transfers” and “managing cash in 23 currencies.” Registered customers may also reportedly obtain a Revolut-branded Visa debit card.
Cointelegraph reached out to Revolut to search out out whether or not its crypto companies are a part of the preliminary launch in Japan however didn’t obtain an instantaneous response.
Revolut’s entrance into Japan comes shortly after the corporate was reported to triple its losses in 2019 regardless of a big surge in new prospects. Revolut founder and CEO Nik Storonsky reportedly mentioned that aggressive international growth was the first purpose behind the corporate’s huge losses final 12 months. In October 2019, Revolut outlined its formidable plans to increase throughout 24 new markets like Australia, Brazil, Canada, Japan, New Zealand, Russia, the U.S. and Singapore.
Japan is seemingly probably the most enticing markets for crypto-related corporations as Revolut enters the nation alongside one other main crypto firm. Kraken, one of many world’s largest cryptocurrency exchanges, formally introduced on Sept. eight that the trade is coming again to Japan after terminating its companies there in April 2018.
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