🎶 TikTok, shop, repeat

TikTok has just officially rolled out TikTok Shop in Singapore

• It's already available in Indonesia, Malaysia, Vietnam, Thailand and the Philippines.
  

TikTok Shop is a seamless experience on TikTok. Just keep scrolling on that oh-so-addictive feed, and head straight to product catalogs.

• There are zero commission fees for merchants and only a 1% payment service fee.
  

Big money. Indonesia looks like TikTok Shop's most profitable location — it brought in $100M in sales volume this June.

‍

🤑 Revolut's crypto revolut-ion

Prep those wallets! UK-based fintech unicorn Revolut has launched crypto services in Singapore. Buy, sell and hold over 80 different crypto tokens in-app.

• Crypto transaction fees are 2.5% for free users and 1.5% for paid subscribers.
• They're also looking to add crypto education courses.

They launched in Singapore, their first SEA market, in 2020.

• Their user base in Singapore has shot up 6x since the pandemic started, and their revenue run rate has doubled over the past 12 months.

‍

🧐 Zooming out

When we covered Revolut last year, they just got their Capital Markets Services (CMS) license from Singapore's central bank.

• With that, they planned to release their fractional stock trading feature in the first half of this year.

But hey, not all things go according to plan! They've gone with crypto trading first. If you're not into it, you'll have to settle for investing in gold, their other investment product, instead!