Wallets/wise
Wise (formerly TransferWise)
4 standards supported
Standards supported
Supported standards
The wallet supports the following visual-code standards:
Overview
Wise (formerly TransferWise) is the world's leading consumer + business cross-border-transfer + multi-currency-account fintech, operated by Wise plc (LON: WISE) — founded January 2011 by Kristo Käärmann + Taavet Hinrikus [1, 2]. In FY2025 (ending March 2025), Wise moved £145.2 billion across borders for 15.6 million people and businesses with revenue £1.2 billion (+15% YoY) or $2.1 billion net revenue (+18% YoY). By Q3 FY26 (three months ended December 31, 2025), Wise served 10.9 million active customers (+20% YoY) + moved £47.4 billion in cross-border (+26% YoY).
Wise revolutionized cross-border transfers via real exchange rate + transparent fee model, eliminating the hidden FX margin banks historically charged. The model: P2P matching of opposite-direction transfers within local payment rails.
History
January 2011 — Founded as TransferWise in London [2] by Kristo Käärmann + Taavet Hinrikus (Estonians).
2011-2018 — Mass European + US expansion [2]: Multi-currency accounts added.
2018 — Wise Business launched [2]: SME multi-currency accounts.
2020 — TransferWise rebranded to Wise [2]: Reflects broader product scope beyond transfers.
July 2021 — Direct listing on London Stock Exchange (LON: WISE) [2]: ~$11B valuation at listing.
2024-2025 — Continued growth + customer holdings 5.7x growth over 4 years to £21.5B [1].
FY2025 (ended March 31, 2025) [3]:
- Cross-border volume: £145.2B (+23% YoY).
- Customers served: 15.6 million.
- Revenue: £1.2B (+15% YoY); $2.1B net revenue (+18% YoY).
Q3 FY26 (ending Dec 31, 2025) [4]:
- Active customers: 10.9M (+20% YoY).
- Cross-border volume Q3: £47.4B (+26% YoY).
Ownership & operator
Operating entity: Wise plc (LON: WISE) — UK-incorporated, London-listed public company.
Founders: Kristo Käärmann (CEO) + Taavet Hinrikus (co-founder; former Skype #1 employee).
Major shareholders: Wise founders + Sky Capital + IVP + Andreessen Horowitz + Lone Pine Capital + Baillie Gifford + public float.
Regulators:
- United Kingdom: FCA (UK Electronic Money Institution license).
- European Union: Central Bank of Ireland (CBI) + Wise Europe SA (Belgian EMI).
- United States: state-level money transmitter licenses + FinCEN MSB registration.
- Singapore: MAS (Monetary Authority of Singapore).
- Australia: AUSTRAC + ASIC.
- Japan: FSA.
- Brazil: BCB.
- Per-country regulators in 80+ markets.
Technical integration
Wise is multi-rail cross-border + multi-currency fintech [1, 5]:
| Layer | Description |
|---|---|
| Channels | Wise app (iOS + Android) + Wise.com web + Wise debit card (Mastercard) |
| Identifiers | Phone number + email + IBAN + per-country local account details (US ACH, UK sort code + account, EU IBAN, AU BSB) |
| Core innovation | P2P matching of opposite-direction transfers via local payment rails — eliminates correspondent banking + hidden FX margin |
| FX model | Real mid-market exchange rate + transparent fixed/percentage fee disclosed upfront |
| Multi-currency accounts | Hold 40+ currencies in single Wise account |
| Local account details | US ACH routing + account, UK sort code + account, EU IBAN, AU BSB, NZ, SG, CA, HU, RO + others |
| Card | Wise Card (Mastercard) — spend in 175+ currencies |
| Standards | SEPA + SWIFT + UK Faster Payments + US ACH + EMV-tokenization |
| Business product | Wise Business — SME multi-currency accounts + Batch Payments API |
Users & growth
FY2025 (ending March 2025) [3]:
- Customers served: 15.6 million
- Cross-border volume: £145.2 billion (+23% YoY)
- Revenue: £1.2 billion (+15% YoY); $2.1 billion net revenue (+18% YoY)
Q3 FY26 (ending Dec 31, 2025) [4]:
- Active customers: 10.9 million (+20% YoY)
- Cross-border volume Q3: £47.4 billion (+26% YoY)
Customer holdings (4-year trajectory) [1]: 5.7x growth to £21.5 billion — substantial deposit growth.
Use cases
International personal money transfers [1]: Cardinal — original use case.
Multi-currency Wise Account [2]: Hold 40+ currencies; receive local-account details in US, UK, EU, AU, NZ, SG, CA, HU, RO + others.
Wise Card (Mastercard) spending [2]: 175+ currencies at real exchange rate.
Wise Business [2]: SME multi-currency accounts + Batch Payments API + invoicing.
Salary receipt from abroad [1]: Major remote-worker + freelancer use case.
Payroll + supplier payments [1]: Business use.
Cryptocurrency on/off-ramp (Wise + crypto exchange integrations) [1]: Indirect via exchange partnerships.
Implementations & partners
Operator: Wise plc (LON: WISE).
Card-network partner: Mastercard (Wise Card).
Banking partners: Bank-of-record partnerships in multiple markets — e.g. UK FPS + SEPA + US ACH direct membership.
Major competitors:
- [[revolut]] (UK + EU + Mexico neobank; 70M+ users; banking license vs Wise's EMI).
- [[paypal]] (Xoom subsidiary).
- Remitly, WorldRemit, Western Union, MoneyGram (remittance specialists).
- OFX, CurrencyFair, Airwallex (cross-border SMB).
- Traditional banks (Barclays, HSBC, Citi cross-border services).
G20 Roadmap for Enhancing Cross-Border Payments: Wise has published 2025 report contributing to G20 + FSB cross-border-payments policy work.
Fun facts
- Founded January 2011 by 2 Estonians (Kristo Käärmann + Taavet Hinrikus) frustrated with bank FX margins on personal transfers.
- Taavet Hinrikus was Skype's #1 employee — Skype-Estonia network of talent.
- Rebranded TransferWise → Wise (2020) reflects broader product scope.
- July 2021 LSE direct listing — innovative listing model (no IPO underwriters).
- 15.6 million customers in FY2025 + £145.2B cross-border volume — substantial scale.
- Multi-currency account with local details in 10+ countries — distinctive feature.
- Real mid-market exchange rate + transparent fees — defining customer-value proposition.
- Customer holdings 5.7x growth to £21.5B over 4 years — substantial deposit-base growth.
- G20 cross-border-payments policy participant — recognized industry voice.
Comparison
| Feature | Wise | [[revolut]] | [[paypal]] (+ Xoom) | Remitly | Western Union |
|---|---|---|---|---|---|
| Operator | Wise plc (LON: WISE) | Revolut Ltd + Bank UAB + Bank PLC + Mexico | PayPal Holdings (PYPL) | Remitly Global (RELY) | Western Union (WU) |
| Type | Multi-currency + cross-border transfers + EMI | Multi-currency neobank + bank | Online checkout + cross-border (Xoom) | Cross-border remittance | Cross-border money transfer |
| Active customers | 10.9M (Q3 FY26) | 70M+ | 434M (PayPal) | 7.8M+ active | Major (legacy) |
| Annual volume | £145.2B (FY25) | n/a | $1.68T TPV | $50B+ | n/a |
| Annual revenue | £1.2B (FY25) | $6B | $31.8B | $1.3B+ | Major |
| Card | Wise Card (Mastercard) | Revolut Card (Visa + Mastercard) | PayPal Debit (Mastercard) | Limited | Limited |
| Banking license | EMI (no bank license) | Full bank (UK + EU + Mexico) | EU bank holding | Limited | Limited |
Status
Active, growing cross-border-transfer + multi-currency leader [1, 3, 4]:
- Wise plc (LON: WISE) since July 2021 LSE direct listing.
- 15.6M customers + £145.2B FY25 cross-border volume + £1.2B revenue (+15%).
- Q3 FY26: 10.9M active customers (+20%) + £47.4B cross-border (+26%).
- Customer holdings 5.7x growth to £21.5B over 4 years.
Sources
- 1 Wise FY2025 Annual Report
- 2 Wise Statistics — ElectroIQ
- 3 Wise plc FY2025 results
- 4 Wise plc H1 FY26 results
- 5 Wise FY25 — FXC Intel
- 6 Wise 11M customers — Finance Magnates
Source
Biography extracted from wise.md. See matrix.md for standards-support matrix if present.