Wise Granted CMS License to Launch Its New Investment Productby Fintech News Singapore November 2, 2022
Wise says that it holds £6.8 billion in account balances globally, but its new investment product, Assets, is currently only available in the United Kingdom where the company is headquartered and listed.
Assets gives Wise business and personal customers more choice about 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 access to the majority of their money, meaning they can hold their balance in Assets, and still spend and send the money when they need it.
“We’re excited to have secured the license as our first step towards bringing Assets to Wise customers in Singapore, making this the first location outside Europe where we’ll be offering this product.
Assets is something new we’ve built to give our customers more ways to manage their money, and we look forward to rolling this out to customers here.
This also reflects Wise’s continued commitment to Singapore, our APAC hub, where by year end we will have doubled in size to hit over 400 employees,”
said Nilan Peiris, Chief Product Officer, Wise.