In the case of transfers to Thailand, WISE cannot solely use the PTP method. WISE doesn't offer the ability to transfer from Thai ฿ to any other currency. Therefor they don't have a source for incoming Thai ฿. WISE may use PTP for exchanges to Thai ฿, but that will probably be only in the short term. I would think they have a float of Thai ฿ available that allows them to offer speedy exchanges/transfers. The balance in the Thai ฿ float would have to be replenished frequently by buying ฿ through a non PTP currency exchange method.
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