Reuters reports the deal is an expansion of an existing agreement between the two firms. Revolut will expand into 24 new markets from its current markets of Europe and Australia, opening in the US and Singapore by the end of this year, with Canada and Japan to follow.

Revolut plan to subsequently launch in other Latin American and Asian markets but does not have a fixed timeline, its CEO and founder Nikolay Storonsky told Reuters.

The expansions are subject to Revolut getting the necessary regulatory approvals.

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