(MENAFN- Mid-East Info) Lebanese fintech Whish Money has secured financial services licenses in Canada, its first major regulatory approval outside the MENA region, signaling the start of a planned global expansion. The company confirmed it is also pursuing licenses in other key markets, including the United States, United Kingdom, the European Union, and Australia.

This strategic move sets Whish Money apart by prioritizing a direct, in-country licensing approach, rather than relying solely on third-party partnerships or limited money transfer agent models. This strategy involves establishing locally incorporated entities and operating fully within national regulatory frameworks, and is designed to build a robust, regulated presence in key diaspora markets.

According to the company, establishing locally incorporated entities allows Whish Money to maintain complete control over the customer experience while ensuring maximum compliance, security, and transparency in each new market. The Canadian licenses are a crucial first step in this global strategy, providing a regulated foundation for its North American operations.

“Securing our Canadian license is a monumental step that validates our compliant, customer-focused model and sets the foundation for our international expansion,” said Toufic Koussa, chairman of the board at Whish Money.“This move is about more than just entering a new market; it's about strategically connecting high-diaspora communities with reliable financial infrastructure, beginning with North America. We are committed to building a regulated, transparent global ecosystem that truly serves our users.”

Headquartered in Beirut and regulated by Lebanon's Central Bank, Whish Money gained prominence locally by providing digital financial services that proved essential during the country's economic crisis. The company built a large user base of over 1.5 million by offering reliable alternatives for payroll, money transfers, and bill payments when traditional financial channels were constrained.

This global expansion is complemented by Whish Money's established partnerships with major global players like Visa, Mastercard, Ria, and Terrapay. These alliances strengthen the firm's secure and compliant cross-border payment infrastructure in the different territories, enhancing financial access for its users. Ultimately, this strategy is part of Whish Money's long-term goal to evolve from a regional payment provider into a comprehensive global financial ecosystem. By establishing a regulated, in-market presence, the firm aims to build a trusted financial ecosystem connecting communities across borders.

About Whish Money whish:

As part of the Talaco Group established in 2004, Whish Money is a leading fintech company, licensed and regulated by the Central Bank of Lebanon. Headquartered in Lebanon, with offices in the USA, Canada and UAE, Whish Money serves an expansive user base of over 1 million individuals across more than 110 countries. Leveraging an extensive regional network of over 1,200 agents in Lebanon and 3,000 points of sale in the UAE, the company continues to amplify its reach and impact. Whish Money provides a diverse portfolio of digital financial services, including versatile payment solutions, secure remittances, and comprehensive merchant tools tailored for both businesses and individual clients.

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