Wise Explores Stablecoins Amid Regulatory Changes

Wise Explores Stablecoins in Strategic Move

Wise, a leading currency exchange and payment platform, is taking steps to explore stablecoins by hiring a digital asset lead, indicating its interest in the cryptocurrency sector as global regulations become more favorable.

Matthew Salisbury, Wise's product director, announced the London-based position on LinkedIn. "If you've developed wallets or payment solutions with stablecoins and want to innovate at Wise, apply or contact me," Salisbury wrote.

The LinkedIn job listing, which has attracted over 100 applicants, states the new hire will join Wise's Accounts team to enhance product offerings and explore customer interactions with digital assets.

Wise seeks candidates with five years of product management experience and expertise in launching consumer products in digital asset or blockchain domains.

Formerly TransferWise, the company is renowned for its low-cost international money transfers across 160+ countries and 40 currencies, reporting £979.9 million in revenue in 2024.

The Potential of Stablecoin Payments

While it's unclear how Wise will integrate stablecoin payment systems, the technology is viewed as a means to expedite and simplify international transactions by bypassing traditional banks.

Visa recently launched a pilot using stablecoins USDC and EURC for cross-border payments. Wise, catering primarily to retail users, is eyeing similar advancements in this space.

Chainalysis notes that stablecoin adoption is rapidly growing in Latin America and Africa, driven by remittance cost reductions and currency stability needs.

The U.S. recently enhanced its regulatory environment with the GENIUS Act, boosting stablecoin adoption. Meanwhile, the UK is expected to implement new stablecoin regulations by 2026, as it lags behind the U.S.

Despite this, USD-pegged stablecoins dominate the market, with British pound alternatives holding a minor share.