TransferWise rolls out multicurrency debit card in Singapore
Singapore
UK-BASED fintech player TransferWise has ruled out applying for a digital bank licence in Singapore.
Instead, it is looking to grow its core business of cross-border payments in the region, said the head of the firm's Asia-Pacific and Middle East expansion Venkatesh Saha.
TransferWise on Tuesday rolled out a multicurrency account with an accompanying MasterCard debit card in Singapore - where it currently offers remittance services - in a move to help Asian travellers and small businesses dodge traditionally high FX markup rates.
The new offering comes amid growing competit…
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