‘Brexit’ Leaves Europe’s Fintech Firms in Lurch

Europe’s financial-technology upstarts are scrambling to figure out what the United Kingdom’s departure from the European Union and its digital payments rules means for their businesses.

‘Nothing’s changed yet but everything’s changed,’ wrote Taavet Hinrikus, CEO and co-founder of TransferWise Ltd., a London-based cross-border payments startup, in an email. ‘This is likely to affect regulation and the movement of talent: two massive issues for business.’

Europe is a key region for payments experimentation, with licenses allowing technology upstarts to make digital transfers across borders, a contrast to the U.S., where every state requires its own license.”

Full Article at WSJ.com