“Just hours ahead of Britain’s EU referendum, a group of fintech CEOs attending MoneyConf in the Spanish capital have made very clear Brexit is not a good idea for their sector.
‘If Brexit happens, the U.K. suffers, Europe suffers,” said Taavet Hinrikus, CEO and co-founder of TransferWise, a currency exchange platform. “Today, London is the global fintech capital — that’s at risk.’
Some fintech executives said an Out vote on Thursday means firms might have to leave London.
‘In the worst post-Brexit scenario, U.K. fintechs would need headquarters in another EU country,’ said the CEO of Barcelona-based Kantox, Philippe Gelis. ‘In the best scenario, we will keep to ‘business as usual.’ “