TransferWise, the London-headquartered international money transfer service recently valued at $3.5 billion, has secured an additional license with U.K. regulators to enable it to offer investment products in the future.
This will mean that U.K. customers who have money deposited in a TransferWise multi-currency or so-called “borderless” account will be given the option to make that money work harder on their behalf. Total deposits currently sit at £2 billion, so there is quite a lot of customer cash potentially idle.
However, the company isn’t revealing much detail on its future investments product, except to say that ...
Read the full text TechCrunch