Fintech Synergy: Wealthsimple and Wise Platform Redefine Cross-Border Payments
Toronto-based Wealthsimple Inc. (“Wealthsimple”) has announced a strategic partnership with United Kingdom’s Wise plc (“Wise”) through its Wise Platform. Wise Platform serves as a leading global payment infrastructure for banks and enterprises in the United Kingdom.
This collaboration comes at a pivotal moment for Wealthsimple, which recently surpassed C$100 billion in assets under administration, three years ahead of its original target.
As part of this fintech partnership, Wealthsimple’s chequing and joint chequing customers across Canada may now access low-fee, fast and transparent international payments directly through the Wealthsimple app or website. This enhancement offers Canadians a convenient way to send money abroad to 30 countries in 10 different currencies.
By leveraging Wise’s global payments network, Wealthsimple gains access to seven domestic payment systems and roughly 70 licenses worldwide, enabling most transfers to settle instantly.
According to a 2024 Payments Canada report, one in five Canadians sent money internationally using their bank account over the past 12 months, representing a stark 33% increase from the year prior. This underscores the growing demand for efficient cross-border payment solutions, making this partnership timely and impactful.
Photo Credit: https://unsplash.com/@ninjason
Expertise
Insights
-
Technology
Whoop and the Wearable Health Market
In March 2026, Whoop Inc. (“Whoop”) completed a Series G funding round for US$575 million, valuing the leading fitness wearable company at US$10.1 billion. Whoop received investment from many notable… -
Technology
The Smartest World Cup Yet: Inside FIFA’s Latest Officiating Innovations
The 2026 FIFA World Cup will showcase some of the most advanced officiating technology ever used in soccer. Building on systems introduced in previous tournaments, FIFA is rolling out new tools… -
Technology
Betting on the Future: How Prediction Markets Are Changing Everything
Recently, the Canadian Investment Regulatory Organization (“CIRO”) approved Wealthsimple to offer forecast contracts. Forecast contracts are investment products that offer investors binary “yes” or… -
Technology
Four Legal Takeaways from the Proposed Canadian Social Media Legislation
On June 10, 2026, the federal government introduced Bill C-34, also known as the Safe Social Media Act. The proposed legislation represents a sweeping effort to regulate social media platforms… -
Technology
Dreaming of a Good Sleep? Technology Might Help
The “sleep economy” is growing rapidly with more than just sleep masks, weighted blankets and melatonin products on the market selling a good night’s rest. Sleep technology has evolved from tracking… -
Privacy and Data Protection
Canadian Privacy Regulators Publish Findings and Guidance on OpenAI Privacy Compliance
Following a multi-year joint investigation, federal and provincial privacy regulators recently published their findings with respect to OpenAI’s collection and use of personal information to train…