Lebanon’s Whish Money has obtained financial services licenses in Canada, marking the fintech firm’s inaugural regulatory approval outside the Middle East and North Africa (MENA) region.
The attainment of the Canadian licences is a pivotal step in Whish Money’s strategy to expand its global footprint, with a focus on direct, in-country licencing.
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With a regulated presence in Canadian markets, Whish Money aims to create a financial ecosystem that facilitates connections between communities worldwide.
The firm establishes locally incorporated entities to ensure it operates within the regulatory frameworks of each country.
Whish Money believes that this method allows them to deliver customer experience while upholding the standards of transparency, security, and regulatory compliance.
The Beirut-headquartered firm has also indicated that it is seeking to acquire similar licences in other prominent markets, including Australia, the UK, the US, and the European Union.
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By GlobalDataAccording to the company, this expansion strategy is in line with a trend among tech firms based in MENA seeking growth opportunities in Western countries, particularly those with substantial diaspora populations.
Whish Money’s efforts reflect the goals of regional fintech counterparts aiming to capture a portion of the global remittance industry through the adoption of contemporary payment technologies.
Regulated by the nation’s Central Bank, Whish Money claims to have played a significant role in providing digital financial services amidst Lebanon’s economic crisis and banking sector difficulties.
Whish Money’s expansion efforts are bolstered by alliances with global financial entities such as Visa, Terrapay, and Ria.
The company’s vision is to transition from a regional payment service to an expansive financial platform.
According to a press release posted on Zawya in August 2025, Whish Money entered into a partnership with Mastercard to offer remittance services in Lebanon.
This initiative utilises Mastercard’s Move solutions, enabling Lebanese users to conduct financial transactions with over 50 countries globally.
