Revolut, one of the leading European applications for trading cryptocurrencies, is expanding into another important market.
The London based company launched its digital banking app in Japan, like Revolut in a Tweet.
According to a report by The Nikkei, Japan is the first non-English speaking market for Revolut. Based in London, The company reportedly has 13 million users worldwideoperating in European countries, USA, Australia and Singapore.
As reported The first use of Revolut in Japan will be limited to “international transfers” and “money management in 23 currencies”“Registered users are also reported to receive a Revolut branded Visa debit card.
Cointelegraph contacted Revolut to find out if its cryptocurrency services were part of the initial launch in Japan, but received no immediate response.
Revolut’s entry into Japan comes shortly after the company reportedly tripled its losses in 2019 despite a significant increase in new customers. Revolut founder and CEO Nik Storonsky said the company’s aggressive global expansion was the main reason behind the company’s huge losses over the past year. In October 2019, Revolut outlined its ambitious expansion plans in 24 new markets including Australia, Brazil, Canada, Japan, New Zealand, Russia, the US and Singapore.
Japan appears to be one of the most attractive markets for cryptocurrency companieswhen Revolut enters the country alongside another major crypto company. Kraken, one of the world’s largest crypto exchanges, officially announced on September 8 that it would be returning to Japan after finishing its services in April 2018.
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