UK fintech company Revolut plans to launch its services in South Africa by 2028, according to Tech in Asia. The company will submit a banking license application in September and, pending regulatory approval, will offer local users a range of products including zero-fee accounts. The waitlist for the service has already exceeded 100,000 registrations, indicating strong demand.
This move is part of Revolut's global expansion strategy. As a digital banking and financial services platform offering remittances, crypto trading, and more, Revolut has already established operations in multiple countries. South Africa, as one of Africa's largest economies, presents significant opportunities for fintech growth. By providing low-cost and accessible account services, Revolut aims to attract local customers and extend its footprint across the continent.