The UK fintech Wise restricts payments amid Russia’s invasion of Ukraine

British tech company Wise has imposed restrictions on remittances to Russia following the country’s invasion of Ukraine on Thursday morning.

Told Wise, formerly known as TransferWise UKTN that he also restricts transfers on his platform to Ukraine to continue to provide his services there.

“As long as we can do this, we will continue to provide our services to people who need to send money to Ukraine,” said a Wise spokesman. UKTN. “Recent developments in the region mean that working with our service is becoming increasingly difficult.”

The spokesman added that she seeks to remove the cap from Ukraine “as soon as we can” and that “is closely monitoring the situation” to “implement any sanctions.”

On Thursday morning, Ukraine said that “[Vladimir] Putin has launched a full-scale invasion of Ukraine. ” President of Ukraine Volodymyr Zelensky said that Russia had struck at Ukraine’s military infrastructure and sent tanks across the border.

Great Britain, USA, EU, Japan, Australia and others tightened sanctions against Russia, including financial sanctions against its banks and individuals.

Wise was founded by Estonian businessmen Krist Käerman and Taavet Hinrikus in 2011 and is used for international money transfers.

The On the UK list The company said it was keeping its measures “under constant control”.

This was announced by a spokesman for the digital bank Revolut, headquartered in London UKTN that she is “closely monitoring the situation in Ukraine” and that she is “ready to take all necessary steps to ensure that we continue to work in accordance with current laws and sanctions legislation.”

Asked what specific steps he is taking to stay in line with regulations, a Revolut spokesman replied: “We cannot comment on interactions with regulators.”