(1 September 2025 – United Kingdom) Global money movement company Wise is assessing an application for a British banking licence after the fintech recently shifted its primary listing away from the London Stock Exchange (LSE) to the US.
The group has pitched to multiple financial services industry leaders regarding positions connected to establishing a banking operation in the UK, according to The Times. Plans remain at a nascent stage with no formal application yet submitted.
The move is not a straightforward one based on its fintech peers such as Revolut which encountered a series of hurdles while seeking a licence over a protracted three year period.
In Australia, Wise was granted an Australian Financial Services Licence (AFSL) by the Australian Securities and Investments Commission (ASIC) last year to offer its “Assets” investment product to Australian customers. The AFSL enables Wise’s clients to invest in money market funds across multiple currencies with no minimum balances.
“This UK license isn’t about making loans. I do suspect they will want to pay interest to savers. But overall their strategy is all about going deeper down the infrastructure stack globally. With a UK banking license, Wise gets the most direct access possible to UK payments rails” commented Fintech Brainfood Founder Simon Tayor.
“No more paying margins to third-party banks. Less counterparty risk. Pure infrastructure control. The pattern is clear now, US charter application for direct FedWire access, UK banking license for more direct UK risk ownership and existing EU operations for direct European rails.”
“We’re watching the emergence of Infrastructure-First Financial Services. Column Bank pioneered this in the US with payments-focused banking. Stablecoin issuers are following the same path. Wise is taking it global. While traditional banks debate branch strategies, companies like Wise are building the actual plumbing of global finance. When infrastructure becomes the competitive advantage, who controls the future of money?”