Digital money transfer Fintech Azimo has secured a license from the Dutch Central Bank to operate its services in the Netherlands, according to a release from the firm. Azimo said its headquarters will remain in London and its engineering and operations in Kraków in Poland.
The approval follows the recent opening of Azimo’s office in Amsterdam, which will help the company to grow its share of the market for cross-border payments from Europe, which is valued at over EUR 1 trillion.
The licence also guarantees that Azimo will continue to benefit from so-called ‘passporting’ rights to operate across Europe, even in the event of Brexit.
Azimo currently enables payments from Europe to more than 200 countries and territories in more than 80 currencies, reaching more than 5 billion potential customers. It offers a variety of transfer methods, including cash pick-up, bank deposit and payment into a mobile wallet.
Michael Kent, CEO of Azimo, said they looked at many jurisdictions but decided the best place to expand their European operations was the Netherlands.
“Outside of the UK, it’s the best place to grow a fintech company in Europe. It offers a welcoming culture open to innovation, access to talent, a thriving banking sector and a strong regulator.”
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