By Aisling Finn on Tuesday 8 September 2020
The fintech first obtained a licence to operate in Japan in 2018.
Digital banking service Revolut has today officially launched in Japan after a successful beta launch.
Revolut had already launched premium accounts in Japan but has now expanded the offering in the country to include its popular free accounts.
The fintech first received authorisation to operate in Japan in 2018 from the country’s regulator, and garnered 10,000 eager users for its beta launch, largely consisting of expatriates living in the country.
In a bid to tear down financial borders, Revolut users in Japan will be able to send money instantly and for free to other Revolut customers across the world including the UK, US, Australia and Singapore.
“According to a report from the World Bank, international remittance fees in Japan are 2 times higher than in the US. The world is becoming more connected, and financial services should be supporting this, not hindering it.”
As well as cutting remittances costs, Revolut users in Japan will have access to the fintech’s ‘super app’ which will allow them to track and budget their spending, split bills and create savings pots.