Revolut Debuts In Japan
|Revolut CEO Nikolay Storonsky.
Photo credit: Seb Daly/Web Summit via Sportsfile, under Creative Commons license
Revolut, the British digital banking upstart, has debuted its service in Japan two years after originally obtaining a license to operate in the country. Revolut began with a beta test of 10,000 users and has now made its digital banking app available to download by anyone in Japan. The entry into Japan marks a rapid expansion initiative embarked on by Revolut. In September of last year, the company partnered with payments service Visa and announced plans to expand into 24 new markets. Currently, Revolut has 13 million users across many countries in Europe, Australia, Canada, Singapore, Switzerland, U.S., U.K., and now Japan.
Normally, Revolut offers a slew of financial services to its users including money transfer, currency exchange, savings, insurance, and cryptocurrency and stock trading. But for now, Japanese users will primarily have money transfer and payment features. Revolut is also looking to expand into other Asian countries such as India, South Korea, Taiwan, India, South Korea, and Hong Kong.