Wise, a UK-based global payments technology company, has received regulatory approval from the Bank of Thailand and the Ministry of Commerce to operate in Thailand, securing five licences covering payments, electronic money, and foreign exchange services.
The approval positions Wise among the first non-banks to hold this combination of licences in the country, and will enable Thai citizens, businesses, and foreign residents to access a fully digital, multi-currency wallet for sending, receiving, and spending money across currencies within a single app.
Customers can now join a waitlist, with the Wise account to be rolled out in stages. The Thailand entry follows recent approvals to launch in the UAE and conditional approval for South Africa, and brings Wise's total regulatory licences globally to over 75.
Market context and fee savings potential
Thailand is one of Southeast Asia's more internationally connected economies, with significant cross-border money flows driven by tourism, overseas education, trade, and a large diaspora population. According to World Bank data, Thailand received USD 9.46 billion in inward remittances in 2024, while USD 8.03 billion was sent out of the country. Based on Thai transaction volumes and World Bank global average costs, Wise estimates consumers could save over USD 1.04 billion annually in hidden fees by switching from traditional bank transfer services.
Wise operates using the mid-market exchange rate with transparent pricing, in contrast to the rate mark-ups commonly applied by banks on international transfers. In its financial year ending 2025, the company reported saving its more than 15 million customers USD 2.6 billion in hidden fees globally.
APAC growth trajectory
Asia Pacific accounts for over 20% of Wise's global revenue and is among its fastest-growing regions. In FY25, APAC revenue rose 22% to GBP 263.8 million. Thailand's regulatory framework, which requires separate licences across payment services, electronic money, and foreign exchange, is among the more complex entry requirements for international payments companies in the region.
Commenting on the news, SK Saraogi, APAC Head of Banking and Expansion at Wise, said the company is bringing a faster, more transparent alternative to a cross-border payments market long dominated by traditional banks, and confirmed plans to continue expanding its regulatory footprint across the region.
