Eqwire

History and Founding

EQWIRE was founded in 2020 by Arthur Azizov, an entrepreneur also known for founding B2BROKER, a provider of trading infrastructure. The company was established to address the pain points of cross-border payments for individuals and small-to-medium enterprises, offering a regulated alternative to traditional bank accounts. Launched publicly with a press release in late 2023, EQWIRE quickly gained attention in the fintech press for its focus on transparency and speed.

Business Model

EQWIRE generates revenue primarily through foreign exchange spreads on currency conversions and transaction fees on international payments. The platform displays exchange rates and fees before users confirm a transaction, ensuring full transparency. Unlike many neobanks, EQWIRE does not charge monthly account fees for standard accounts, but may apply fees for certain services or high-volume usage. The company also targets marketing agencies with its 'Global Pay' product, offering batch payouts and payment infrastructure for international campaigns, which likely carries its own pricing structure.

Products and Platforms

EQWIRE offers multi-currency accounts with named IBANs in GBP, EUR, and USD. Users can send and receive payments via Faster Payments (GBP), SEPA (EUR), and SWIFT (USD). The platform supports payments to over 35 currencies, with clear cut-off times and value dates. FX conversion is offered at competitive spreads. Accounts can be managed through a secure web portal and mobile apps for iOS and Android. A dedicated product for marketing agencies, 'EQWIRE for Agencies (Global Pay)', enables batch payouts. The company has announced plans to launch both physical and virtual cards linked to multi-currency balances by Q4 2026. Business clients can integrate via the company's API, which connects directly to payment networks.

Market Position and Competition

EQWIRE operates in the crowded digital cross-border payments space, competing with established players like Wise, Revolut, and Payoneer, as well as other EMI-licensed fintechs. Its differentiation lies in its exclusive focus on cross-border professionals and its clear transparency around fees. The company explicitly excludes high-volume retail spending, gambling, crypto speculation, and anonymous use, targeting instead a niche of international freelancers, remote workers, and SMEs with multi-currency needs. Its regulatory status as an FCA-authorised EMI provides a trust advantage, though client funds are safeguarded under EMR 2011 rather than covered by the FSCS.

Licensing and Regulation

EQWIRE is authorised by the UK Financial Conduct Authority as an Electronic Money Institution (FCA FRN 901100). It complies with the Electronic Money Regulations 2011. All client funds are held in segregated accounts and safeguarded accordingly. The company's registered office is at 51 Eastcheap, London, EC3M 1DT.

Recent Developments and Strategy

As of late 2025, EQWIRE is actively expanding its customer base and payment network. The planned launch of cards in Q4 2026 will allow users to spend directly from their multi-currency accounts abroad, a key feature for daily use. The company is also exploring expansion into additional markets beyond its current approved jurisdictions. No fundraising rounds or major partnerships have been publicly disclosed, and the company remains privately held.