Revolut, a serious European cryptocurrency-friendly buying and selling utility is increasing to one other main market.
The London-based agency has launched its digital banking app in Japan, as Revolut introduced in a Sept. eight tweet.
In accordance to a report by The Nikkei, Japan is the first non-English speaking market for Revolut. Headquartered in London, the corporate reportedly has 13 million customers worldwide, working in European nations, the USA, Australia and Singapore.
As reported, Revolut’s preliminary roll out in Japan will probably be restricted to “worldwide transfers” and “managing cash in 23 currencies.” Registered customers will even reportedly obtain a Revolut-branded Visa debit card.
Cointelegraph reached out to Revolut to discover out whether or not its crypto companies are a part of the preliminary launch in Japan however didn’t obtain a direct response.
Revolut’s entrance into Japan comes shortly after the corporate was reported to triple its losses in 2019 regardless of a major surge in new prospects. Revolut founder and CEO Nik Storonsky reportedly stated that aggressive world enlargement was the first motive behind the corporate’s huge losses final 12 months. In October 2019, Revolut outlined its bold plans to develop throughout 24 new markets like Australia, Brazil, Canada, Japan, New Zealand, Russia, the U.S. and Singapore.
Japan is outwardly probably the most enticing markets for crypto-related firms 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 change is coming again to Japan after terminating its companies there in April 2018.