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Wise obtains investment licence from the Estonian Financial Supervision and Resolution Authority
Wise, the global technology company building the best way to move money around the world, has today received its licence from the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon), to bring Assets to Estonia in the coming quarters.
Currently available in the UK, Assets gives Wise customers the opportunity to choose how their money is held, and potentially earn a return on their money in over 50 currencies. Unlike money held in traditional investment accounts, Assets gives customers instant access to the majority of their money meaning they can hold their balance in Assets, and still spend and send the money in real time, as and when they need it.
Wise also intends to apply for permission to passport the new licence and bring Assets to more European markets.
People and businesses hold €7.8 billion in Wise Account Balances globally today. By unlocking access to their money and offering investment through multiple currencies, Wise seeks to create a more convenient experience for people who send, hold and receive money in multiple currencies.
Lars Trunin, Head of Product at Wise: “We’re thrilled to be granted our new licence here in Estonia, which will allow us to take a big step forward in replacing traditional international banking with a faster, cheaper and more convenient system, initially for our customers in Estonia and eventually for people across Europe.”
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