British fintech companies will flourish even after Brexit, since London’s influence as a global fintech hub has expanded far beyond Europe, co-founder of U.S.-based Stripe John Collison has told The Telegraph, Bloomchain.ru reports.

Collison, who is of Irish descent, has said he is “extremely optimistic” about the prospects for the British fintech companies. The head of Stripe has also noted that London “actually outperforms” the U.S. in terms of market complexity.

According to Collison, the British fintech market has experienced “crazy and impressive” growth over the past five years. Even after Brexit, young companies will still have access to a large domestic market, which is enough to build meaningful businesses.



Loyal regulation has made the UK a major fintech hub. Young companies can quickly acquire e-money licenses, which enables them to accept customer deposits without waiting for a full banking license for years.

According to a report by Innovate Finance and WPI Economics, the UK had about 76,500 specialists working in the financial technology sector as of 2018. That number is expected to reach 105,500 by 2030.

Great Britain withdrew from the European Union on the night of February 1, 2020. However, he United Kingdom is subject to European regulations until the end of this year, because of the transitional period. Many UK fintech startups are setting up backup structures in Europe to continue operations in the region after the transition period.

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