🎉 Expansion of Wise in the 🇬🇧Asia-Pacific region: Thailand🇹🇭 grants the company 5 licences

🎉 Expansion of Wise in the 🇬🇧Asia-Pacific region: Thailand🇹🇭 grants the company 5 licences

The approvals, issued by the Bank of Thailand and the Ministry of Commerce, cover payment systems, e-money, and foreign exchange services. As a result, Wise becomes one of the first non-bank institutions to obtain this combination of licences in Thailand.

💎 Wise will now be able to legally offer individuals, businesses, and foreign residents a service to send, receive, and spend money in multiple currencies within a single application. Users can already join a waiting list, with wallet activation to be rolled out gradually.

💎 Note: the entry into the Thai market follows recent authorization in the United Arab Emirates🇦🇪 and a conditional approval in South Africa🇿🇦. The total number of licences obtained by Wise globally has now reached 75.

💎 Context: according to World Bank data, in 2024 Thailand received USD 9.46 billion in remittances, while outflows amounted to USD 8.03 billion. Experts estimate that by switching from traditional bank transfers to online services, consumers could save more than USD 1.04 billion annually in hidden fees.

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