The Wise Platform is the infrastructure division of Wise that provides services to global banks, financial institutions, and enterprises. The division has announced a strategic partnership with Nubank, one of the financial institutions in Brazil. This collaboration aims to strengthen Nubank's services by introducing global accounts and international debit cards.

Enhance international banking options

This collaboration aims to consolidate Wise Platform's position as the preferred choice for major banks and enterprises worldwide. Well-known entities such as Bank Mandiri, Shinhan Bank, IndusInd Bank, BPCE, Monzo, and Google Pay have already partnered with Wise Platform, bringing the total number of global partners to over 85.

Nubank boasts a massive customer base of over 90 million in South America, with 85 million customers in Brazil alone, making it a prominent player in the region's financial sector. Earlier, Nubank announced strong growth in 2023, adding 19.3 million customers, with a total customer base nearing 94 million in Brazil, Mexico, and Colombia. Revenue in the fourth quarter of 2023 increased by 57%, reaching $2.4 billion, achieving a net profit of $1 billion for the year, marking a significant turnaround from previous losses.

Dollar and Euro transactions in 200 countries

The initial rollout of the partnership will help Nubank launch new global accounts and international debit cards, catering specifically to their "Ultravioleta" high-end customers. These cards will allow customers to hold currencies in dollars and euros while seamlessly transacting in local currencies across 200 countries and regions globally.

Furthermore, this partnership signifies a significant step in Wise's expansion efforts in Brazil and beyond. Wise has launched in Brazil just 15 months ago and has successfully issued over a million Wise cards.

Additionally, Emmanuel Thomassin has been appointed as the new Chief Financial Officer and Director of Wise, succeeding Matthew Briers. Thomassin previously served as the Chief Financial Officer of Delivery Hero, gaining extensive experience in rapidly growing companies globally. He will join Wise on October 1, 2024, with Kingsley Kemish serving as interim CFO until then.