Cryptocurrency trading, and the use of cryptocurrency exchanges, has not only become more common, but can play an important part in how people bank.
As a financial institution, we also need to consider the risks that crypto trading can involve.
Which is why we don’t support the purchase, exchange, or trading of cryptocurrencies — it's against our Acceptable Use Policy.
What does this mean for my Wise account?
You can't use your Wise account to buy, sell, or trade cryptocurrencies. Our rules apply to personal and business accounts. We may reject such payments, or close your account altogether.
This means we don’t allow:
Sending money to buy cryptocurrency. You can't send money to cryptocurrency exchanges (like Coinbase or Binance), or directly to individuals to purchase Bitcoin, Ethereum, or any other virtual currency.
Sending money to crypto wallets. You can't transfer money to digital wallets designed to hold or trade cryptocurrencies.
Receiving money from unlicensed cryptocurrency exchanges and platforms. You can't receive money from platforms that aren’t licensed in the United Kingdom or a country in the European Union (EU).
Receiving money from peer-to-peer (P2P) cryptocurrency trading. You can't receive money from individuals as payment for the sale of Bitcoin, Ethereum, or any other virtual currency.
Holding money as part of a cryptocurrency trade. You can't send or receive funds on behalf of individuals or companies who trade virtual currencies.
Using Wise exclusively for crypto-related transactions.
There may be some exceptions, such as:
Receiving a salary from businesses involved in the exchange or trading of cryptocurrencies
Receiving payment for professional services provided to such businesses
Buying shares in a business in the cryptocurrency industry
This is not an exclusive list — we'll cancel or return any payments that exceed our risk tolerance, and we may sometimes close accounts. It’s part of the legal and regulatory responsibilities we have as a financial institution.
What does this mean for my Wise business account?
We don’t support businesses that are involved in the exchange or trading of cryptocurrencies, or any virtual currencies. We may close your business account as a result.
This includes, for example, business activities such as:
Operating a crypto-asset exchange or wallet
Providing financial services using cryptocurrencies (like loans, savings, or investments)
Buying or selling cryptocurrency for your business or on behalf of your customers
Offering your own virtual currency for customers to buy
Raising capital through an initial coin offering (ICO)
Check our Help Centre if you have additional questions.