Kristo Kaarmann is the cofounder and CEO of Wise. (Photo By Eóin Noonan/Sportsfile via Getty Images)Sportsfile via Getty ImagesWise is betting big on America. The London-listed fintech best known for cheap international transfers is adding staff, pouring money into marketing, and laying the groundwork for a Wall Street debut as part of a broader push into what it calls its most promising market.Building Scale and a Bigger WorkforceWise has already hired more than 1,000 employees in the first half of the yea ...

Core Viewpoint - The remittance amount from foreign workers in Japan has significantly increased, reaching a historical high in the first half of 2025, with expectations to exceed 1 trillion yen for the year due to factors such as bonuses and long holidays [2][4]. Group 1: Remittance Trends - In the first half of 2025, remittances from foreign workers in Japan amounted to 506.8 billion yen, marking a 38% increase year-on-year and setting a new half-year record [2][4]. - The total remittance amount is projected to surpass the previous record of 847.5 billion yen set in 2024, potentially exceeding 1 trillion yen for the first time [4]. - The number of foreign workers in Japan has increased by 12% year-on-year, reaching 2.3 million, with Vietnamese nationals being the largest group [4]. Group 2: Remittance Destinations - The top remittance destinations in 2024 included Vietnam (326.2 billion yen), Indonesia (102.1 billion yen), and the Philippines (90.2 billion yen) [6]. - Global remittance flows have tripled over the past 20 years, with Japan ranking 25th in terms of outbound remittance amounts [6]. Group 3: Risks Associated with Remittances - There are two main risks associated with remittances from foreign workers: illegal activities and the impact on the yen exchange rate [8]. - A survey indicated that 2% of foreign residents in Japan used underground remittance services, primarily due to favorable exchange rates [8]. - Increased remittance amounts could lead to higher selling pressure on the yen as foreign workers convert yen to their local currencies [8]. Group 4: Domestic Remittance Trends - In the first half of 2025, remittances from Japanese residents abroad to Japan totaled 303.1 billion yen, a 10% decrease year-on-year [9]. - The net selling of yen after accounting for remittances was 203.7 billion yen, the highest half-year figure since comparable data began in 1996 [9].