Wise achieved two landmark infrastructure milestones in the 2025-2026 period: becoming the first non-bank approved to join Japan's Zengin domestic payment network, and one of the first payment service providers granted membership to Payments Canada.
Japan: Zengin Access
Zengin is Japan's domestic interbank payment network, processing virtually all domestic bank transfers. Wise's approval as the first non-bank participant enables instant transfers to and from Japanese bank accounts without intermediary banks - a significant cost and speed improvement for one of the world's largest payment markets. Japan has historically been among the most difficult markets for fintechs to access directly.
Canada: Payments Canada Membership
Wise joined Payments Canada in January 2026, gaining direct clearing access to Canada's domestic payment infrastructure. This reduces reliance on correspondent banks for Canadian dollar transactions, lowering costs and settlement times for Wise's Canadian customers.
Global Direct Access Strategy
These milestones extend Wise's systematic strategy of joining domestic payment systems directly. Wise also secured a Payments Institution licence in Brazil (enabling direct PIX access) and an Australian Financial Services Licence during this period. The company now has direct payment system access in over a dozen markets.
What This Means
Wise is proving that fintechs can systematically replace correspondent banking relationships with direct payment system memberships. Each direct connection eliminates intermediary fees and delays. Japan's Zengin access is particularly significant - it demonstrates that even traditionally closed payment systems are opening to non-bank participants.