Wise reported a 25% growth in cross-border volume and 11% growth in underlying income in the first quarter. The cross-border take rate declined by 12 basis points to 52 basis points, reducing transaction costs. Customer growth was 17%, with volume growth driven by new customers. Shares are considered expensive, with a fair value estimate of GBX 750 per share and no-moat rating.

Read more at Morningstar: Wise Trading Update Shows Decent Customer Growth, Shares Expensive