Wise (OTCMKTS: WPLCF), formerly known as TransferWise, is a global financial technology company specializing in cross-border money transfers and multi-currency accounts. The company offers individuals and businesses a transparent alternative to traditional banking by leveraging the mid-market exchange rate and charging a low, upfront fee. Its platform enables users to send and receive funds in multiple currencies, often at a fraction of the cost of incumbent banks and wire services.
Wise’s core product suite includes personal and business accounts that support a borderless wallet capable of holding and converting more than 50 currencies. Customers can access local bank details in major regions such as the United States, euro-area countries, the United Kingdom, Australia, and New Zealand, facilitating local currency payments without hidden charges. The company also issues a debit Mastercard that allows cardholders to spend directly from their Wise account in over 200 countries and territories.
Founded in 2011 by Taavet Hinrikus and Kristo Käärmann, Wise set out to reduce the cost and complexity of international payments. The company rebranded to Wise in July 2021 to reflect its broader ambitions beyond money transfers, including business payouts, multi-currency savings, and embedded payments via its API. Since its inception, Wise has grown its network to serve millions of customers and to process billions of dollars in transactions every month.
Headquartered in London, Wise operates across Europe, North America, Asia Pacific and other regions, with regulatory authorizations in key markets such as the UK’s Financial Conduct Authority and the U.S. Financial Crimes Enforcement Network. The executive team, guided by co-founders Hinrikus and Käärmann, continues to expand the company’s footprint through partnerships and new product offerings designed to simplify global finance for both private users and enterprises.
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