Currently only available in the UK, Assets lets users hold cash in their multi-currency accounts in different asset classes, while being able to spend and save as normal.

The Estonian Financial Supervision and Resolution Authority has given the green light for Assets to launch in the country. Wise also intends to apply for permission to passport the new licence and bring Assets to more European markets.

Lars Trunin, head of product, Wise, says: “We’re thrilled to be granted our new licence here in Estonia, which will allow us to take a big step forward in replacing traditional international banking with a faster, cheaper and more convenient system, initially for our customers in Estonia and eventually for people across Europe.”