Wise breaks banking barriers with full approval in Thailand

Wise has become the first non-bank to secure full regulatory approval in Thailand. The company now holds all five licences required to offer digital financial services in the country. Customers will soon access multi-currency wallets and card payments through a single app.

The Bank of Thailand and the Ministry of Commerce granted Wise the necessary permissions. These cover payments, e-money, and foreign exchange—areas traditionally dominated by banks. Thai residents, businesses, and foreign nationals can now use Wise for cross-border transfers, spending, and currency management.

The rollout will happen in phases, with a waitlist already open for early sign-ups. Wise's expansion in Asia-Pacific has been rapid, contributing over 20% of its global revenue. In the last financial year, the region's earnings climbed 22% to £263.8 million.

Globally, Wise holds more than 75 regulatory licences. Recent approvals include full clearance in the UAE and conditional approval in South Africa. The company's growth in Thailand follows its strategy of entering markets with strict financial regulations.

Wise's entry into Thailand marks a shift in the country's financial services sector. Customers will soon manage multiple currencies and payments through one platform. The phased launch begins with a waitlist, while the company prepares for full operations.