Revolut Rolls Out Core App Services in Japanese Market

Revolut, which bills itself as a ‘digital banking alternative’, is launching its app and service in Japan, which marks its first leap into a non-English speaking market. The European fintech startup has already completed a successful beta launch where the firm tested the service with 10,000 Japanese users. It originally secured regulatory approvals in the country back in 2018.

Starting today, Japanese consumers can set up a Revolut account from their smartphone, and their account should then be verified within a matter of minutes. Tens of thousands of new users have reportedly signed up to the waiting list, and they will now be able to access some of Revolut’s core features.

Although it will initially offer a limited number of functions in Japan, customers will receive a Revolut-branded Visa debit card and will be able to send money instantly and for free to other app users.

Additionally, they can transfer money to another Revolut user or a bank account at the interbank rates and exchange 28 foreign currencies within the app.

Revolut Brushes Off Outage Concerns

Revolut offers a ton of additional features in the UK and Europe, but the challenger bank is starting with basic features in Japan. Specifically, users are not allowed to make Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term transactions, invest in the stock market or buy insurance products.

Revolut has recently rolled out a series of new products, including the launch of its app and service in the US market in partnership with Metropolitan Commercial Bank. Before March 2020, Revolut’s services, which attracted over 10 million customers, have been available in the UK and Europe, with US applicants previously being held on a waiting list.

However, the fintech company was struck by controversy earlier this year when it faced many outages with such inconveniences that have recently become a point of contention and competition between those who offer similar services.

Revolut was founded in 2015 and claims to be signing up 250 businesses and 9000 customers every day, with projects expected to reach a 100 million milestone in the next four years. The startup received its European banking license in 2018 as it makes preparations for a shift in Europe’s financial services landscape after Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term.