Simont Braun assists TransferWise with their arrival in Belgium
Estimated time to read this article2 min
Date of publication4 November 2019
Author(s)Philippe De Prez, Catherine Houssa, Axel Maeterlinck
CategoriesBanking, Finance and Insurance, Digital Finance and FinTech, Regulatory and Financial Services
Simont Braun successfully assisted TransferWise, the global technology company that moves money internationally, in obtaining a licence as a payment institution in Belgium. TransferWise officially launched its Brussels operations in October 2019.
TransferWise is an international money platform. The company decided to establish as a payment institution in Belgium to continue serving their European customers as before, even in the event of a no-deal Brexit.
In this framework, Simont Braun’s Digital Finance Team assisted TransferWise with their licence application procedure before the National Bank of Belgium and the incorporation of their Belgian corporate entity. Simont Braun also advised the FinTech company on connected financial regulatory, corporate and labour law matters.
“Our Digital Finance Team is happy to have contributed to this significant step in TransferWise’s development strategy in Europe. This licence is also the achievement of a fine-tuned collaboration, both with TransferWise and the National Bank of Belgium,” says Philippe De Prez, Partner.
From left to right: Philippe De Prez (Partner at Simont Braun), Catherine Houssa (Partner at Simont Braun), Gordon Youngson (Head of legal Europe at TransferWise), Axel Maeterlinck (Partner at Simont Braun), and Anna Doyle (EU Compliance lead at TransferWise).