Wise, formerly known as TransferWise, was founded in 2011 with the aim of making international money transfers cheap, fair, and simple. It offers a multi-currency account that enables millions of people and businesses to hold and manage money in over 50 different currencies. Wise’s products include Wise Account for personal use, Wise Business for cross-border business payments, and Wise Platform, which allows banks and businesses to offer fast, low-cost international money transfer services to their customers.nnWise operates by using real mid-market exchange rates and local bank accounts to minimize fees and increase transparency in money transfers. It is not a bank and does not lend out customer money but partners with regulated banks to provide FDIC insurance and interest-bearing accounts. Wise has developed partnerships with financial institutions and fintech companies such as Monzo, Bolt, and GoCardless, broadening access to international banking solutions.nnThe company went public on the London Stock Exchange in July 2021 and has been valued at multiple billions since. It has expanded its physical presence with offices in London, Tallinn, and Singapore as of 2025. Wise emphasizes security with 2-factor authentication and segregates customer funds to ensure safety.nnCustomers benefit from features like real-time transfer tracking, multi-currency cards for spending abroad, and the ability to receive payments in multiple currencies. Wise continues to innovate by adding interest features on certain currency balances through partnerships with investment firms like BlackRock.nnWise’s mission centers on removing barriers to international money movement, making cross-border payments as easy and affordable as possible, ultimately enabling a “money without borders” experience for both individuals and businesses.