Wise expands to Spain, seeks bank partnerships

Wise, a UK-based fintech company, is seeking partnerships with traditional banks in Spain and plans to open an office in either Madrid or Barcelona this year. This move aims to expand its services within the Spanish market. The company, which facilitates international money transfers, is also considering applying for a Spanish IBAN. Wise, with 15.5 million global customers, aims to reach a trillion pounds in currency exchange volume, up from its current 145 billion pounds. Wise's expansion in Spain follows its success in other markets and reflects its strategy of collaborating with both traditional banks and other fintech companies. The company is also focused on increasing transparency in the financial sector.