Mr. Cheng has served as interim CEO since the beginning of 2023.

“We are excited to appoint Stephen as our Chief Executive Officer, a role he has performed exceptionally on an interim basis turning around the company amidst a challenging economic environment,” said Pascal Levy-Garoua, independent Director on Wyre’s Board of Directors. “Stephen is an accomplished and respected leader whose track record of helping businesses safely and securely grow and scale their platforms is second to none. We look forward to working with Stephen to drive Wyre into its next era of growth.”

Prior to being named interim CEO in January 2023, Mr. Cheng served as Wyre’s Chief Risk and Compliance Officer. Before joining Wyre in 2021, he was the Chief Compliance Officer and BSA AML Officer at Prime Trust and Chief Compliance Officer of a public financial technology and bank holding company, Green Dot Corporation, where he also served as Chair of the bank’s Risk Management Committee. Before that, he held senior compliance roles at First Data Corporation (now Fiserv) and at American Express.

“I am honored to continue to lead Wyre and serve our incredible community of partners and customers,” said Mr. Cheng. “The current dislocation in financial markets has presented Wyre with a tremendous opportunity to help innovators and businesses better reach and serve customers worldwide. I have the utmost confidence that our talented team and dedicated partners will enable us to achieve our goal of making the new global economy more accessible, safe, and secure.”