The U.K.-headquartered fintech has obtained a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS).
Revolut is planning to roll out a stock trading feature on its app to Singapore customers, scheduled for the first half of 2022, which allows users to buy fractional shares in U.S. listed companies, the neobank announced in a statement on Monday.
The trading feature is free to set up with a standard Revolut account, and there is no account minimum required to invest, with the platform offering users several commission-free trades a month, depending on their subscription plan
Besides Trading, Revolut Singapore said it is also looking to bring Commodities and Cryptocurrencies to customers herem subject to securing the relevant approvals. Revolut currently has around 16 million users worldwide.