Wise becomes first non-bank to be granted five licences in Thailand, accelerating its global expansion and growth
- Wise becomes first non-bank in Thailand to secure the five licences necessary to operate locally and is now authorised to issue foreign currency wallets and its Wise cards
- Thailand licences mark another step in Wise’s expansion across APAC, one of its fastest-growing regions, accounting for 20% of revenue in FY25
- More than $17 billion is moved by people across Thailand’s borders each year, underscoring the opportunity for fast, low-cost and transparent cross-border payments
London/Bangkok, 17 March 2026 – Wise, the global technology company building the best way to move and manage the world’s money, has secured regulatory approval from the Bank of Thailand and the Ministry of Commerce to operate locally in Thailand.
This means that Thai citizens, businesses and foreign residents will have the country's first fully digital, foreign currency wallet for sending, receiving and spending money in multiple currencies all within one app. Customers can join the Thailand waitlist from today to be among the first to access the Wise account as the product is rolled out in stages.
International payments remain one of the most expensive parts of the global financial system, with banks often applying hidden mark-ups to currency exchange rates on top of transfer fees. Wise saved its more than 15 million customers $2.6 billion in hidden fees in FY25 through its platform, which uses the mid-market exchange rate and transparent pricing.
Thailand is one of Southeast Asia’s most internationally connected economies, with strong tourism, overseas education, cross-border trade and a large population earning and spending across multiple countries. According to the World Bank, Thailand saw a total of $9.46 billionflow into the country from Thais and residents abroad in 2024, while $8.03 billion was sent out of the country. This highlights the scale of money moving across Thailand’s borders. Yet for all of that movement, the financial infrastructure hasn't kept up. Based on Thai transaction volumes and World Bank global average costs, consumers could potentially save over $1.04 billion annually in hidden fees by switching to Wise.
The expansion into Thailand further strengthens Wise’s presence in Asia-Pacific, which accounts for over 20% of Wise’s global revenue and is one of its fastest-growing regions. In FY25, revenue from APAC rose by 22%, reaching £263.8m, reflecting strong demand for faster, cheaper and more transparent cross-border money solutions across the region.
SK Saraogi, APAC Head of Banking and Expansion at Wise, said: “Thailand’s cross-border payments market has long been dominated by traditional banks, and Wise is bringing a faster, more transparent alternative. With these licences, customers will soon be able to manage money seamlessly whether they’re sending it abroad or using it locally. Beyond Thailand, we see strong demand for our products across APAC and will continue to increase our regulatory footprint to bring our products to even more customers.”
Thailand’s regulatory framework requires multiple licences covering payments, electronic money, and foreign exchange services, making it one of the more complex markets for international payments companies to enter. Wise now holds over 75 regulatory licences globally. It has recently received full approvals to launch its service in the UAE and conditional approval to bring its service to South Africa.
With Wise Account and Wise Business, people and businesses can hold 40 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new network for the world's money. Launched in 2011, Wise is one of the world’s fastest growing, profitable tech companies.
In fiscal year 2025, Wise supported around 15.6 million people and businesses, processing over $185 billion in cross-border transactions and saving customers around $2.6 billion.