Revolut has launched a cryptocurrency service in Singapore. Many companies have demonstrated an unwavering faith in the market despite the recession.
Singapore has recently lacked clarity regarding the regulations it should impose on the cryptocurrency industry.
Some businesses were severely affected during the massacre, while others continue to move forward with their expansion plans.
Investment management firm BlackRock recently teamed up with Coinbase to extend access to cryptocurrencies to its customers.
Similarly, Revolut has announced a cryptocurrency service in Singapore. Along with this, Revolut also plans to increase its headcount by 20%.
The fintech company has now received approval from the Singapore Monetary Authority.
The company says the exchange process allows customers to convert 27 fiat currencies of gold or silver into cryptocurrencies without foreign exchange fees.
Customer pricing is determined based on the tier to which the customer belongs.
For example, Standard tier customers are charged a 2.5% fee per transaction, while Premium and Metal customers are charged a 1.5% fee.
Deepak Khanna, Head of Wealth and Trade at Revolut Singapore said:
To help our customers better understand the trends and risks associated with cryptocurrencies, we plan to offer an educational feature in the coming months.
Many ways to buy and sell cryptocurrencies on Revolut’s platform
Revolut offers multiple ways to buy and sell digital assets. Customers can place stop or limit orders as this means they do not have to time the market.
Customers can also use the subscription feature to average out market volatility. Buyers and Sellers can round up a reserve change of token of their choice.
Emil Urmanshin, Revolut’s Crypto General Manager, said Revolut’s platform has many advantages.
Trying to navigate traditional exchanges can get very complicated, and this process often prevents people from accessing cryptocurrencies.With Revolut, customers just tap a button. , you can easily exchange your fiat currency for your cryptocurrency of choice.
Revolut offers customers to buy, sell and hold over 80 tokens
Revolut allows investors to hold, buy and sell over 80 tokens via the app. The fintech company also plans to provide users with educational services to help them gain a better understanding of the industry as a whole.
Revolut will focus on market developments along with the risks associated with trading cryptocurrencies.
Additionally, Revolut has become quite popular during the pandemic, with its customer base jumping sixfold and the company’s revenue doubling last year.
Revolut introduces crypto trading in Singapore despite possible new restrictions
Source link Revolut introduces crypto trading in Singapore despite possible new restrictions