Wise launches its multi-currency investment feature Assets in the UK

By Joy Dumasia

Wise, the global technology company building the best way to move money worldwide, has introduced its multi-currency investment feature Assets to UK customers. Assets will give people and businesses in the UK the opportunity to choose how their money is held and potentially earn a return on their money across 54 currencies. Wise Account holders in the UK will access Assets; Wise Business customers can start using Assets on the web, with access on Wise mobile apps coming in a few weeks.

The first asset to be Stocks, a broad portfolio of 1,557 of the world’s largest public companies included in the MSCI World Equity index, such as Apple, Amazon, and Google, is worth more than £40 trillion. BlackRock has been selected to provide the tracking fund for this index.

Kristo Käärmann, CEO and Co-Founder of Wise, said: “People all over the world are holding billions in their Wise and Wise Business accounts for the long-term. But holding money in various currencies can be hard to manage efficiently. Assets is seeking to solve that problem by providing an opportunity for customers to earn a return on their money with us, in a host of different currencies, all in one place. It’s not a standard current account, or a savings account, or a stock-picking investment platform. It’s something new we’ve built to give our customers a balance between the convenience, reliability, and potential returns of all three. We’re solving financial problems for people who are living more international lives. This new product will take us one step further in replacing old-school international banking by making Wise work harder for our customers.”

Recently, IBS Intelligence reported that Wise, the global technology company building the best way to move money worldwide, has dropped prices by up to 47% on international transfers from the UK to 18 countries, including the United States, Turkey, Poland and Croatia.