John and Patrick Collison
The payments firm will expand its engineering team in Dublin after securing licence
Payments firm Stripe, founded by brothers John and Patrick Collison, has secured an e-money licence from the Central Bank, which means Stripe can continue to process payments for users across Europe regardless of the outcome of Brexit negotiations.
While Brexit is a concern for the company, the company says that its plans to expand locally are what prompted the move.
Stripe is one of just a few companies to secure the ‘electronic money institution licence’ in recent years – others included Soldo, a London-based fintech, and Facebook which received its licence in 2016.
Stripe’s Dublin office is their fastest-growing office in Europe, and their first international engineering hub with over 150 employees.