Wise Moves to Nasdaq and Applies for US Banking Charter
Wise began trading on Nasdaq under the ticker WSE after relocating its primary listing from London. The fintech, known for processing international bank transfers at lower costs, handled $243 billion in cross-border volume last year and is seeking a US banking charter and Federal Reserve master account.
A Shift Beyond Exchanges
The Nasdaq listing marks a significant milestone, but it’s part of a broader American expansion. Wise has applied for a national trust bank charter from the Office of the Comptroller of the Currency, with operations based in Austin, Texas. Simultaneously, they aim to establish a master account at the Federal Reserve Bank of Dallas, enabling direct settlement of US dollar payments through FedNow.
Financial Highlights
For the fiscal year ending March 31, 2026:
- Wise processed $243 billion in cross-border volume, representing a 31% increase YoY.
- Net revenue reached $2.5 billion, up 19%.
- Transaction revenue grew by 22%, with $1.9 billion split between cross-border ($1.3 billion) and card ($600 million) revenues.
- Card revenue increased by 34%, the fastest-growing segment.
- Active customers reached 18.9 million, a 21% increase.
- Customer holdings in Wise accounts grew by 40% to $39 billion.
- 75% of payments are now delivered instantly, up from 65% previously.
Market Position and Future Prospects
Wise’s market capitalization is approximately $14 billion, reflecting a bet that US investors will value its growth trajectory, substantial annual volume, and banking ambitions higher than its 2021 direct listing price. The company saved customers over $3.3 billion in fees during the year, emphasizing its commitment to lower pricing compared to traditional bank transfers.