It's the same with Revolut for Cyprus & Malta.
Most likely becaue of pressure from the EU as Wise is Belgium based and Revolut Lithuania based.
I'm pretty much sure that they receive as by far the biggest EMI's in EU some pressure from the EU to not make it too easy for EU nationals switching there base to the islands - BoC and all Malta banks already reflect this since years.
Furthermore both relay on correspondence network and therefore you couldn't send with Cyprus Company USD with Wise since forever.
The best replacement if you deal with EUR is Paysera as they give you︀ dedicated SEPA/SWIFT IBAN via TARGET2.
However when you deal with USD you can't work with︁ EMI's as no other EMI actually really provides you with a facility like Revolut /︂ Wise does.
You can only stick to a few high risk EMI's that charge you︃ an Arm and a Leg for transfering around - see Wallter they have a St.︄ Lucia based Correspondence Bank and chagre you flat % for incoming and outgoing up to︅ 5%.
I have seen them recently being used by a lot of clients based on︆ Cyprus switching to Dubai - as there is no other possibility actually for those opening︇ Cyprus lately - Malta is already longer a problem - they stopped already in 2019/2020︈ onboarding Malta and now with the FATF grey listing it's even getting more worse.
A waitlist is always a nice looking excuse:
Take a look on moneynetint.com they have actually︉ a waitlist as well but not because they want to - it's because there daughter︊ company Globalnetint has regulator issues in Lithuania:
https://www.lb.lt/en/sfi-financial-market-participants/globalnetint-uabhttps://www.globalnetint.com/news
Ask yourself if you want to︋ count on small islands in 2021.
I'm pretty sure like
@Martin Everson said as well︌ - Malta & Cyprus are easy targets to set an example from EU as they︍ don't have any economy beside of getting you CySec CFD licenses & Gambling licenses.
