Estonia

Wise Secures License to Operate Investment Services in Estonia

by Fintechnews Baltic October 26, 2022

The Estonian Financial Supervisory Authority or Finantsinspektsioon has granted TINV Europe, a part of the Wise group which provides online money transfer service, a license to provide investment and ancillary services in the country.

Wise is now allowed to accept securities orders and send them, execute securities orders in the name of clients or in its own name, and trade with securities on its own account.

The company can also hold and manage the securities of clients, and provide services relating to foreign exchange if they are linked to the provision of investment services.

Wise says that it hopes to launch its investment service Assets in more European markets. The service is currently only available in the United Kingdom, where the company is listed on the London Stock Exchange.

Clément André Bernard Baudot, Maryam Siddiqui and Lars Trunin are listed as members of Wise’s management board on the Estonian financial authority’s registry.

Lars Trunin

“We’re thrilled to be granted our new license here in Estonia, which will allow us to take a big step forward in replacing traditional international banking with a faster, cheaper and more convenient system, initially for our customers in Estonia and eventually for people across Europe,”

said Lars Trunin, Head of Product, Europe & UK at Wise.

Featured image credit: Edited from Unsplash