Wise Granted Type 1 Funds Transfer Licence in Japan, Expanding Global Reach

Wise has secured a Type 1 Funds Transfer Service Provider licence from Japan's Financial Services Agency, a significant regulatory milestone that removes previous restrictions on transaction sizes for the fintech's Japanese operations.

The upgraded licence allows Wise to process larger-value international transfers in Japan, opening the platform to a broader range of use cases including business payments and higher-value personal remittances. Under its previous licence classification, Wise was limited to smaller transaction amounts, constraining its ability to serve the full spectrum of cross-border payment needs in one of Asia's largest economies.

Japan's licensing framework for funds transfer services is tiered, with Type 1 representing the highest category and permitting transfers without an upper limit on transaction value. Wise's elevation to this tier makes it one of a very small number of non-bank fintechs globally to hold full payment licences across major financial markets in Asia, Europe, and North America.

The licence was granted following a comprehensive regulatory review process. Wise said it had worked closely with the FSA to meet the enhanced capital, compliance, and operational requirements associated with the Type 1 classification.

For Wise, Japan represents a strategically important market with significant cross-border payment flows. The country's large expatriate community and internationally connected business sector generate substantial demand for international transfers, a market that has traditionally been dominated by banks charging significantly higher fees than Wise's transparent, mid-market rate model.