The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
The London-based financial technology firm said Thursday that it had acquired a remittance license from the Monetary Authority of Singapore and full authorization from Japan's Financial Services Agency.
Revolut offers users a prepaid debit card and a current account, as well as premium features like cryptocurrency trading and free unlimited foreign exchange.
It said Thursday that it intends to launch its platform in the Asia-Pacific (APAC) region in the first quarter of 2019, and is looking to select Singapore to host its APAC headquarters.
"We have confidence that Revolut will continue to be a driving force as we expand globally, developing a range of exciting new services for increasingly connected consumers in APAC," Revolut Chief Executive Nikolay Storonsky said in a statement Thursday.
"It's a huge market and we're already seeing an incredible amount of people demanding our product."
More than 50,000 people in the APAC region have signed up to a waiting list to create an account with Revolut, the firm said.
Revolut added that it is working with Singapore's central bank to advise on legislation being tabled in the country's parliament and aimed at streamlining payments regulation under one single piece of legislation.
Revolut has experienced significant growth since it was founded three years ago. It now has a total of 3.2 million customers registered with the app — up 60 percent from the 2 million user count it announced in June — and has processed 245 million transactions with a total transaction volume of more than $32 billion to date.
Investors have poured a total of $336 million into Revolut, with its most recent $250 million funding round giving it a valuation of $1.7 billion. Notable backers of the firm include early Facebook investor DST Global and Dropbox backer Index Ventures.
A recent report by The Times of London said that Revolut is in talks with Japanese tech investment giant SoftBank to raise a fresh round of funding, and that it could rake in as much as $500 million. Revolut declined to comment on that report when contacted by CNBC at the time.