Revolut, the global neobank boasting over 28 million customers worldwide, has revealed that its Singapore users can now exchange and store seven additional currencies within the app.
The newly added currency accounts encompass the Indian rupee (INR), Philippine peso (PHP), South Korean won (KRW), Chilean peso (CLP), Colombian peso (COP), Egyptian pound (EGP), and Kazakhstani tenge (KZT).
This expansion empowers Revolut customers to engage in foreign exchange transactions using the app for the aforementioned currencies, enabling seamless card payments or transfers.
Revolut anticipates that the primary use cases for this feature will be travel expenses and international remittances.
In recent developments, Revolut enabled its customers to link and top up their accounts directly from up to six different bank accounts within the app.
Raymond Ng, CEO of Revolut in Singapore, expressed his pride in announcing the addition of the seven new currencies to the platform. He noted that this expansion comes at an opportune time to support consumers during their travels. Despite the rising cost of living, three out of four Singapore consumers are expected to have traveled this spring.
Ng emphasized Revolut’s commitment to providing users with increased access to the global financial system. With their innovative technology and user-centric approach, Revolut aims to revolutionize the way people manage their finances, furthering their mission in the financial industry.
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