Moneycorp Secures its E-Money and MiFID Licences in Ireland

Moneycorp is one of the worlds largest specialist foreign exchange companies, serving corporates and individuals across multiple channels since 1979.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, July 1, 2020
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Tags: 
Professional services, Data management, Technology, Finance, Networks, Internet, Banking, Foreign exchange companies, Moneycorp, Economy, Finance, Money, Foreign exchange market, Markets in Financial Instruments Directive, Foreign exchange
Geotags: 
IRELAND, Europe
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Summary
Key Points: 
  • Moneycorp is one of the worlds largest specialist foreign exchange companies, serving corporates and individuals across multiple channels since 1979.
  • Bryan McSharry, CEO of Moneycorps European business, said: We are delighted to have secured both E-money and MiFID licences from the Central Bank of Ireland.
  • Our CBI licences will enable us to continue to expand our business and headcount in Ireland and offer our market-leading service to a vastly increased customer base across the EU.
  • Moneycorp Group is a global foreign exchange and payments business with offices in the UK, USA, Brazil, Hong Kong, Spain, Gibraltar, Romania, Australia, the UAE and Ireland.


Moneycorp Group, the global foreign exchange and payments business has been granted its Electronic Money Institution (E-Money) and MiFID licences by the Central Bank of Ireland (CBI), further bolstering its offering and expansion in the European Union (EU).

Moneycorp is one of the world’s largest specialist foreign exchange companies, serving corporates and individuals across multiple channels since 1979. Headquartered in London, Moneycorp opened its Dublin office in 2013 to provide corporate clients with foreign exchange and payment services over its market leading on-line platform as well as directly from its Dublin dealing room.

Since launch, the Dublin office has operated as a branch of the Group’s UK regulated entities, however, as part of Moneycorp’s strategic response to Brexit and wider market developments, it has now secured its E-money and MiFID licences from the CBI for a newly established Irish company; Moneycorp Technologies Limited (MTL).

Bryan McSharry, CEO of Moneycorp’s European business, said: “We are delighted to have secured both E-money and MiFID licences from the Central Bank of Ireland. This ensures we can continue to support our existing customer base; continue to grow our business in Ireland; and expand our business across the EU in a post Brexit environment.”

“Since launching in Dublin in 2013, we have built a strong corporate and individual customer base of Irish clients – based on our ability to provide best in class foreign exchange services across our market-leading technology platform. We completed €3 billion of transactions for Irish clients in 2019 and we will build on that in 2020 and beyond. Our CBI licences will enable us to continue to expand our business and headcount in Ireland and offer our market-leading service to a vastly increased customer base across the EU.”

About Moneycorp

Moneycorp Group is a global foreign exchange and payments business with offices in the UK, USA, Brazil, Hong Kong, Spain, Gibraltar, Romania, Australia, the UAE and Ireland.

With a forty year record of outstanding customer service, today the Moneycorp group serves the growing foreign exchange and payments needs of global businesses, importers and exporters as well as personal clients.

www.moneycorp.com

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