TransferWise eyes Asia with Singapore as Asia-Pac hub

Remittance set-up, which is valued at over US$1b, expects to have 30 people in Singapore by end of 2017

Published Thu, Apr 27, 2017 · 09:50 PM

Singapore

TRANSFERWISE, a remittance startup valued at more than US$1 billion, has established Singapore as its Asia-Pacific hub as a means to expand in Singapore and to explore new Asian markets such as China, India and South Korea, its top executive told The Business Times on Thursday.

TransferWise launched its international money transfer service in Singapore this week, with customers being able to register online with verification that includes using a selfie. The company expects to have 30 people in Singapore by the end of 2017, and will start with eight staff from next week. The new outfit in Singapore will add to TransferWise's existing offices in Sydney and Tokyo.

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