Standard Chartered has teamed up with Wise to enhance cross-border remittance services across Asia and the Middle East. Through this partnership, Standard Chartered’s SC Remit customers will now be able to send money in 21 currencies, including USD, CAD, EUR, GBP, SGD, and JPY, with transactions completed in just seconds.
The collaboration utilizes Wise’s Platform API, providing customers with mid-market rates and no markups. This integration will be rolled out over the coming quarters, with plans for expanding both the number of supported currencies and the regions where Standard Chartered operates.
This is not the first collaboration between the two companies; Standard Chartered‘s digital bank in Hong Kong, Mox, partnered with Wise earlier this year. Samir Subberwal, global head of wealth solutions at Standard Chartered, emphasized the strategic move: “We partnered with Wise due to their extensive currency coverage and exceptional cross-border payments experience. This collaboration is key to enhancing our international payment services.”
Wise‘s share price rose 6.4% in London following the announcement, marking a positive response to the deal. Steve Naudé, managing director of Wise Platform, stated, “The partnership with Standard Chartered reflects our shared vision of creating frictionless, fast, and low-cost international payment experiences for customers.”