Whish Money obtains financial services licences in Canada

Core Insights - Whish Money has obtained financial services licenses in Canada, marking its first regulatory approval outside the MENA region, which is a significant step in its global expansion strategy [1][2] - The company aims to establish a regulated presence in various markets to create a financial ecosystem that connects communities worldwide [1][2] - Whish Money's expansion aligns with a trend among MENA-based tech firms seeking growth in Western countries, particularly those with large diaspora populations [3] Company Strategy - Whish Money establishes locally incorporated entities to comply with regulatory frameworks, ensuring transparency, security, and regulatory compliance [2] - The firm is actively seeking similar licenses in other key markets, including Australia, the UK, the US, and the European Union [2] - The company's vision is to evolve from a regional payment service to a comprehensive financial platform [4] Partnerships and Collaborations - Whish Money has formed alliances with global financial entities such as Visa, Terrapay, and Ria to bolster its expansion efforts [4] - In August 2025, Whish Money partnered with Mastercard to offer remittance services in Lebanon, utilizing Mastercard's Move solutions for transactions with over 50 countries [5] Market Context - The company plays a significant role in providing digital financial services amid Lebanon's economic crisis and banking sector challenges [4] - Whish Money's efforts reflect the broader goals of regional fintech counterparts aiming to capture a share of the global remittance industry through modern payment technologies [3]