RE: Quiet10 Nov 2025 14:58
The mega opportunity for Wise is not competing with companies like Revolut, it's the 100% fully owned global transport network for crosss border money exchange that, under today's conditions, only has SWIFT as a meaningful, but incumbent competitor. Revolut has none of that, it's just a customer facing competitor that has the option to charge less here and there for money transfers, and cross subsidize to retain/grow customers. Wise will continue to face direct competition there for sure, based on the 1000s of transfer companies, including Revolut.
But if they win the battle with SWIFT, Revolut will be transferring their payyments using the Wise network anyway. Just like NuBank does, (the largest challenger Bank in The Americas), and Itau (the largest private bank in Latin america), two cite 2 examples.
The reason stable coins MAY be relevant is simply one of rapid advancements in technology. Over time, something may come along and totally displace the current FIAT money transfers that we now have. It won't be tomorrow, or next year, and of course it comes with its own costs and regulatory hurdles as Dibbs99 rightly mentions. Just like Wise faced when it started building a global "money as we know it" network.
I'm invested in WISE, I think the game is over regarding SWIFT. But I am cautiously aware that it can't currently be considered the "Amazon" of money transfers, as Jamie Ward describes it, and that means everything is hunk dory. Every half year/full year presentation, the CEO Kristo is asked several times about crypto/stable coin threats and his answers have been weak. He just avoids answering. For a company looking 10 to 20 years into the future, I would prefer if WISE had a better outlook on the potential threats, or at least a better response.
Still a happy investor, despite these comments.
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