Revolut launched a money market fund product for business customers in Singapore, giving small and medium-sized companies access to returns that have historically been limited to large corporations with substantial cash reserves.

Revolut Singapore Expands Business Offerings with Money Market Fund Access

The “Flexible Cash Funds” offering allows businesses on the company's higher-tier plans to earn up to 4.48% annual percentage yield on U.S. dollar deposits, with the ability to withdraw funds within two business days under normal conditions.

The product supports British pounds, euros and U.S. dollars across up to 100 separate fund accounts.

“We're proud to make money market funds accessible to companies of all sizes, not just large asset managers or those with substantial reserves,” said James Gibson, head of Revolut Business.

The funds manage over $500 million globally in assets under management, according to the company.

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Revolut has added several features for Singapore business customers in recent months. The company enabled Chinese yuan SWIFT transfers, allowing businesses to send renminbi to international recipients. Integration with Wizz Air, QuickBooks and NetSuite accounting platforms went live for Asia-Pacific users, joining existing connections with Xero and FreeAgent.

Revolut Singapore Customers Surge 125% in Debut Quarter

Revolut's Singapore business unit has posted quarterly customer growth averaging above 50% since launching in August 2024. The first quarter saw a 125% jump in business sign-ups, though the company declined to provide absolute customer numbers.

The timing coincides with rising anxiety among Singapore businesses about economic conditions. A survey by Singapore Business Federation found the share of companies expecting deterioration nearly doubled between the fourth quarter of 2024 and first quarter of 2025.

The Singapore business team plans to increase staff ninefold from its August 2024 launch levels by year-end, though Revolut didn't specify current or target headcount figures.

Ashley Thomas, head of strategy and operations for Revolut Singapore, said the business division is attempting to replicate the company's retail growth in the corporate segment.

“We have our ears close to the ground, always listening to our customers and constantly seeking ways to enhance our offerings,” Thomas said.

Stablecoin Conversion Added

Separately, Revolut introduced fee-free conversion between U.S. dollars and stablecoins USDC and USDT at a 1:1 ratio. The feature eliminates the small spreads typically charged on fiat-to-stablecoin exchanges. The move comes two weeks after the service was introduced under the new EU crypto license.

“Every time I go on-chain, I struggle with the same thing: you never actually get 1:1 when moving between fiat and stablecoins,” said Leonid Bashlykov, head of product for crypto at Revolut. “There's always that annoying 0.0002 spread, or a hidden fee somewhere.”

Users can move stablecoins across multiple blockchain networks and link balances to Visa and Mastercard for daily purchases, with biometric security for withdrawals.

Revolut has over 65 million retail customers globally and hundreds of thousands of business accounts. Recently, the UK-based fintech also secured a banking license in Mexico.