Wise moves money between bank accounts in dozens of currencies. Defied moves digital dollars and euros between wallets, in seconds, from an account only you control. Here is how they compare on custody, cost, speed and reach, and when each one is the better tool.

Wise and Defied both make it easy to move money across borders, and both work with euros and dollars. They do it on different rails.

Wise moves money between bank accounts. It holds your balance, converts it at the mid-market rate and pays it out to a bank account in the destination currency. Defied moves digital dollars and euros, USDC and EURC, between wallets on a public network. Your balance stays in an account only you control, and a payment lands in the other person's wallet in seconds.

This guide compares the two on custody, cost, speed and reach, so you can pick the right one for each payment.

The short answer

  • Choose Wise when the money has to arrive in someone's bank account, especially in a currency other than euros or dollars.
  • Choose Defied when you want to hold dollars or euros yourself, and when the person you pay can receive USDC or EURC.
  • Use both if you pay some people by bank transfer and others in digital dollars or euros.

Who holds your money

Wise holds your money for you. In the EU it operates as Wise Europe SA, a payment institution supervised by the National Bank of Belgium. Wise keeps customer money separate from its own, at large banks and in money market funds, so it is protected if Wise fails. It is not a bank, so the deposit guarantee doesn't apply, and your balance is subject to Wise's checks, limits and terms.

Defied never holds your money. Your balance is EURC and USDC in a wallet created for you when you sign in, and only you can approve a payment from it. Defied can't move, freeze or lend out your funds. Our guide to non-custodial wallets explains how that works.

With Defied, keeping your login safe is your job.

Sending money abroad

Wise is built for bank-to-bank transfers. You see the exchange rate and one upfront fee before you send, and the money arrives in a local bank account, often within minutes on major routes and within a day on most others. It covers dozens of currencies, which is its biggest strength.

Defied sends EURC or USDC to anyone with a wallet on Base, by address or Defied username. The payment settles in seconds at any hour, weekends included, and the recipient holds it in a wallet they control. There is no currency conversion unless you choose to swap between EURC and USDC, and sending to another wallet is free.

A Defied payment arrives as digital money, so it works best when the other person is happy to receive stablecoins. If they need cash in a local bank account, Wise, or a bank, is the route. Our guide to sending money abroad compares every method.

Holding dollars and euros

Wise lets you hold dozens of currencies in one account, with local account details in several of them. In some countries it also offers to invest your balance in funds, which carry their own risk and rules.

Defied holds two: digital dollars (USDC) and digital euros (EURC), both issued by Circle and backed by reserves. Because they are public digital money, you can take them to any compatible wallet or app. You can also choose to lend them in public markets on Base at variable rates, from your own wallet. Rates are never guaranteed, and lending carries protocol risk, so read the risk disclosure first.

For someone paid in dollars who lives in euros, or the other way round, holding both in one wallet you control and swapping when you need to is the main reason to use Defied.

Getting money in and out

Wise connects to the banking system everywhere it operates: you top up by bank transfer or card and withdraw to any bank account.

Defied connects to banks through a personal IBAN, where available. Euros sent to it by SEPA arrive as EURC, and you can send EURC back to a bank account as euros. Top-ups and withdrawals have a fee, listed on our fees page and shown in the app before you confirm.

What Wise does that Defied doesn't

  • Dozens of currencies, with local account details in several.
  • Payouts to bank accounts around the world in the local currency.
  • A debit card for spending abroad.

If you regularly pay bank accounts in pounds, złoty or any non-euro currency, Wise is the better tool.

What Defied does that Wise doesn't

  • Self-custody. Your balance is in a wallet only you control, not on a company's books.
  • Payments at any hour. Transfers settle onchain in seconds, any day.
  • Works with other wallets. USDC and EURC work in any compatible wallet, so you're never tied to one provider.
  • Direct access to lending markets, at variable rates you can see before you decide.

Which one should you use

  • Paying a supplier's bank account in another currency: Wise.
  • Paying a contractor who accepts USDC or EURC: Defied.
  • Holding dollars and euros under your own control: Defied.
  • Spending abroad with a card: Wise.

Many people who work across borders use both: Wise for the bank side, and Defied for the money they want to hold and move themselves.

Start with Defied

Defied is a wallet for EURC and USDC that only you control. Hold, send and swap them, and lend in public onchain markets at variable rates, without a bank. Get the app for iPhone, or use it in your browser.

This article is for informational purposes only. Defied is a non-custodial software interface and does not provide financial advice. Please read our risk disclosure and terms of use before using the Services.

Last updated: 2026-10-19

Frequently asked questions

Is Defied cheaper than Wise?

It depends on where the money ends up. Sending EURC or USDC from Defied to another wallet is free. If the money has to land in a bank account in another currency, Wise is usually the simpler and cheaper route. Defied's fees for swaps, top-ups and withdrawals are on our Fees page.

Is money in Wise protected by a deposit guarantee?

No. In the EU, Wise operates as Wise Europe SA, a payment institution supervised by the National Bank of Belgium. It keeps customer money separate from its own, at large banks and in money market funds, but it is not a bank, so the deposit guarantee doesn't apply.

Does Wise support stablecoins?

Not for customers at the time of writing. Wise has said it is exploring digital assets, but your Wise balance is held by Wise in its regulated accounts, not as stablecoins in a wallet of your own.

Can I send money from Wise to Defied?

Yes, if you have a personal IBAN in Defied. Send euros to it from Wise by SEPA and they arrive in your wallet as EURC.

Who holds my money in Defied?

You do. Your EURC and USDC sit in a wallet only you control, and Defied is the app you use to reach it. Defied can't move or freeze your funds. There is also no deposit guarantee, so read the risk disclosure before you deposit.

This article is for general information only and is not investment, legal or tax advice. Any rates mentioned are third-party protocol or market rates at the time of writing; they change constantly and are not offered or guaranteed by Defied. Stablecoins are not bank deposits and are not covered by deposit guarantee schemes. Defied is a non-custodial software interface and does not hold customer assets. Read the Risk Disclosure before using the service.