Financial conglomerate Morgan Stanley partnered with Wise to enable instant international currency transactions for its corporate and institutional clients.
Morgan Stanley, the second-largest commercial multinational corporation in the U.S., announced the integration of Wise Platform, a system for international money transfers with direct currency conversion. This partnership will allow Morgan Stanley’s major clients to conduct instant cross-border currency transactions, according to Wise representatives.
Wise is a global payments provider working with leading banks, financial institutions, and enterprises worldwide. The company holds over 65 licenses for payment services and has six direct connections to payment systems, enabling 63% of cross-border payments to be processed in under 20 seconds.
According to the press release, this new offering will enhance Morgan Stanley’s existing suite of currency exchange transactional services tailored for corporate and institutional clients. Notably, Morgan Stanley is the first systemically important financial institution to implement corporate payments via Wise Platform.
Steve Naudé, Managing Director of Wise Platform, stated that the company supports the shift of major traditional financial service providers toward innovative FinTech solutions. These solutions offer faster, more cost-effective, and transparent cross-border payments for the corporate sector compared to conventional financial infrastructure.
The availability of purely FinTech-driven solutions for corporate-level international operations is steadily growing. In 2024, Ripple announced the launch of a Web3-based corporate solution for supply chain financing, designed for institutional clients in Japan.
