Wise has secured the five licences needed to operate in Thailand, paving the way to roll out its foreign currency wallet and card services locally.

The company said it is the first non-bank to receive the approvals.

The approvals were granted by the Bank of Thailand and the Ministry of Commerce.

Wise said the move will allow Thai citizens, businesses and foreign residents to use a digital foreign currency wallet to send, receive and spend money in multiple currencies through a single app.

The rollout will take place in stages, with customers now able to join a waitlist for access.

The entry into Thailand adds to Wise’s expansion in Asia-Pacific, which the company said accounted for more than 20 percent of its global revenue in FY25.

Revenue from the region rose 22 percent to £263.8 million in FY25.

Thailand’s regulatory framework requires multiple licences covering payments, electronic money and foreign exchange services, making it a more complex market for international payments companies to enter.

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.”

Wise now holds more than 75 regulatory licences globally and has recently received full approval to launch in the UAE, along with conditional approval in South Africa.

Featured image: Edited by Fintech News Singapore, based on image by Freepik