In short: Deiya. A holding they are "very comfortable owning for a long period of time." Correspondent banking costs ~5% to move money across borders; the fintechs do it near 2%, and "nobody's done the work that Wise has done" plugging directly into national central banks. The distinctive point is that Wise cuts its own take rate aggressively and on purpose — "I'm going to be the loss leader… it's not due to competition, it's aggressiveness. It's not defense" — "they're the one causing the storm." Its target market is far bigger than Remitly's: businesses, banks and, ultimately, correspondent banking, Visa and Mastercard themselves.
Sending money between countries through the traditional banking system is slow, opaque and costs roughly 5% of the amount, because banks were built nation by nation and international transfer was bolted on afterwards through a chain of intermediary ("correspondent") banks. Wise built its own plumbing instead — direct connections into a long list of national payment systems — and moves money at closer to 2%, with tracking so you can see it arrive.
What Deiya finds unusual is the posture. Most companies defend a fee against competitors; Wise cuts its own fee as fast as it can on purpose, to make itself the cheapest option and pull volume in. "It's not due to competition, it's aggressiveness. It's not defense." In the host's phrase, Wise is the one causing the storm rather than being caught in it — and the infrastructure nobody has replicated is what lets it survive its own price war.
Its ambition is also much larger than a consumer app: it sells its rails to businesses and to banks, which puts it in the way of correspondent banking and, eventually, of Visa and Mastercard. One housekeeping note: Wise moved its main stock market listing from London to Nasdaq in May 2026, so the primary line is now the US one (WSE), with London as secondary.
1:01:23And they're more aggressive about taking down, their whole thing is like, I'm going to be the loss leader. I'm going to take down my rate very, very fast. It's not due to competition. It's more aggressiveness. It's not defense. So they're contin — they're the one causing the storm.
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.