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Wise Prepares to Launch Investing Product in Europe

Securing a license in Estonia provides Wise with an opportunity to expand its Assets investing service across Europe

Wise investing

Wise Prepares to Launch Investing Product in Europe. Source: transferwise.com

London-based fintech Wise has received Estonian Financial Supervision and a Resolution Authority (Finantsinspektsioon) investment license. Now, the Assets service which is available only in the UK can expand to the EU.

With an obvious start in Estonia, Wise plans to apply for more permissions and bring Assets to more European markets. The investment product lets users hold cash in multi-currency accounts in different asset classes while being able to spend and save as usual. Unlike typical investment accounts, users have 24/7 immediate access to 97% of their funds. 

The service has already registered 20,000 customers in the UK, with a total investment amount standing at £60 million. The initial investment can be as little as £1  in any of the 50 currencies available in Wise. The 0.55% annual fee is charged monthly and includes managers’ fees.

“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.”
Lars Trunin, head of product, Wise

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Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.