Revolut to launch commodities trading in Singapore. Stocks and Crypto may follow

Rick Steves

Revolut Singapore is also attempting to acquire a license from Singapore’s financial regulator in order to facilitate stock trading for its customers. Cryptocurrencies may also be an upcoming feature on Revolut Singapore, but licenses and approvals are still pending.

investment gold price

The Monetary Authority of Singapore (MAS), the country’s financial watchdog, has authorized Revolut to add gold and silver to its offering for their users.

Revolut will be launching gold and silver on its app with the blessing of Singapore’s regulator as the fintech expands its offering to cater a demanding user base that is looking to gain exposure for more kinds of assets.

Commodities trading may be followed by stocks and crypto

The gold and silver instruments that will be made available on the Revolut app are backed by real metals, based on live market performance data.

No minimum deposit is required to gain access to commodities on Revolut, but transaction fees may vary depending on membership levels (1.5% for standard customers, 0.5% for premium or metal customers).

“Commodities will allow our customers to further diversify their portfolio. We have made sure that obtaining access to gold and silver exposure is as simple and low cost as possible, with customers being able to trade at amounts that suit them”, James Shanahan, Chief Executive Officer of Revolut Singapore, told Business Times.

“Our goal is to give our customers as many options as possible so they can manage and invest their money in the way they want,” he added.

Revolut Singapore is also attempting to acquire a license from Singapore’s financial regulator in order to facilitate stock trading for its customers. Cryptocurrencies may also be an upcoming feature on Revolut Singapore, but licenses and approvals are still pending.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

Revolut looking to open its own crypto exchange

Revolut, one of the largest trading platforms in Europe, has signaled its intentions for developing a crypto exchange of its own as it has put up a job posting looking for a tech lead for the exchange development.

Revolut has been slowly and steadily moving into the crypto space as it has recognized that the volatility of these instruments is likely to attract a lot of trading volumes and with the volumes reducing for other instruments, traders have continued to pile into cryptos and its popularity has been rising over the last 2 years.

This has forced trading platforms to quickly pivot their offerings and Revolut has been quick to do so by offering crypto trading and also planning to introduce its crypto tokens shortly as well. The development of the crypto exchange seems to be a new plan but considering that it is a trading platform that has a massive reach, it makes sense for it to build a crypto trading platform as well.

The new job posting has called for a tech lead to developing a crypto exchange and for someone who has more than 7 years of experience in the tech field and who has very good experience with building matching engines and with leading large tech teams as well.

Read this next

Digital Assets

DappRadar report: NFTs volume below $1 billion for the first time since June 2021

DappRadar’s July 2022 industry report found that blockchain games and their NFTs remain resilient amid a crypto winter accentuated by the debacle of Terra.

Digital Assets registers to operate crypto business in Italy had registered as a digital asset provider in Italy, following in the tracks of rivals who joined a special registry with brokerage regulator Organismo degli Agenti e dei Mediatori (OAM).

Digital Assets

Binance rolls out crypto card in Argentina with 8% cashback

Binance is launching its crypto debit card in Argentina, the first country in Latin America to have the product thanks to a partnership with Mastercard.

Digital Assets

Greece sends BTC-e operator Alexander Vinnik to US

Alexander Vinnik, an alleged Russian hacker accused of laundering $4 billion of criminal proceeds through BTC-e, has been extradited from Greece to the United States.

Retail FX

Saxo Bank reports weakest FX volume in 6 months

As many traders were away on annual summer leave, currency markets saw a relatively quiet period in July. Within that context, Copenhagen-based Saxo Bank has reported its monthly metrics, which showed a renewed decline month-over-month.

Market News

The Week Ahead: 5 August from David Madden, Market Analyst at Equiti Group

It has been an interesting week and despite a lot of negative news, equity markets enjoyed a positive run. US House Speaker, Nancy Pelosi, defied the warnings from the Chinese government and carried out a visit to Taiwan. The Beijing authorities moved military hardware close to the self-governed island to flex its muscles. Stock markets came under a little pressure as a result and risk-off assets like the Japanese yen and gold found themselves in high demand.


Alina Strogonova of Muvon Payments: How Can Fintech Optimise Payments

Financial services in their conventional form are obsolete, according to fintech startups. New-age finance is constantly redesigning electronic money transactions and testing innovative solutions.

Digital Assets

No need for CFDs: BitMEX introduces leveraged FX perpetual swaps

Previously retail FX trading was mostly possible via CFDs (contract for difference). BitMEX’s FX perps allow both retail users and institutional traders to access FX markets through an exchange-traded contract.

Digital Assets

BEQUANT launches index measuring dollar against crypto

“Our research team has worked hard to quantify and capture the latest economic story into the broader crypto market.”