Osborne Clarke has assisted Currencycloud B.V. with obtaining a license from the Dutch Central Bank to conduct the business of an electronic money institution and to provide payment services on a cross-border basis.
Currencycloud is a sister company of The Currency Cloud Limited, a UK-domiciled company which is currently licensed by the FCA as an electronic money institution. Currencycloud is now one of a small number of electronic money institutions based in the Netherlands.
Currencycloud, a leader in providing embedded B2B cross-border solutions, offers clients the ability to move money around the world through their cloud-native infrastructure. The as-a-service platform is proprietary with over 85 different APIs across four modules – collect, convert, pay, and manage – allowing clients the ability to move money across the entire workflow for international payments.
The Osborne Clarke in Amsterdam team was led by Partner Johannes de Jong who was supported by Associate Ted Broekhof.
Osborne Clarke’s client base and reputation as a trusted advisor for innovative and tech-driven clients has resulted in Osborne Clarke assisting in respect of a significant volume of financial regulatory license applications in the field of payments and e-money (PSD2/2EMD), investment funds (AIFMD and UCITS) and investment firms (MiFID2).