Following news on Friday 10th October 2025 that Legend Trading’s Irish subsidiary Legend Financial Ireland Limited secured its MiCAR authorisation in the European Union from the Central Bank of Ireland, Fintech Ireland updated and issued its 'Ireland's Regulated Fintech Ecosystem Map (Payments Crypto & Crowdfunding)'.  Welcome to Version 19 of that Map! 

Thanks to CompliReg for powering the Map.  Check out their services HERE.

Things are moving fast in the world of Ireland's Regulated Fintech Ecosystem.  A fortnight ago we released Version 18 of the Map. We are now at Version 19 thanks to the authorisation of Legend Financial Ireland Limited by the Central Bank of Ireland.  You can find information about Version 18 HERE.

The Fintech Ireland Map records only those companies which are registered or authorised.  Any discrepancy between the Map and the Central Bank's registers is due to the fact the Central Bank does not remove the names of e-money and payments firms that withdraw authorisation but instead mark these with the withdrawal date.

We expect to see more and more fintechs achieve authorisation from the Central Bank in coming weeks, so keep an eye of this website.  And get along to the Fintech Ireland Summit on Thursday 27th November 2025 where we will take a deeper dive into this topic.

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If your logo or name has changed, please email us at [email protected] with your newer logo (in jpeg / png format) and any name change.  If your company is not on the relevant Map and you wish to join, please start the process by completing the Fintech Ireland Survey. it.

As part of the Fintech Ireland's Fintech Bridge presentation at the Ireland Hong Kong Business Forum & Hong Kong Trade Development Council event last night (29 September 2025), we released an updated Map of the 88 licenses issued by the Central Bank of Ireland.

There are a number of points to note about the Map.  Thanks to CompliReg, leading fintech authorisation specialist across Europe and the UK.

Firstly, we officially welcome:

• Currenxie Technologies Limited and Paycom Europe Limited to the Map. Currenxie is authorised as an Electronic Money Institution with payment services 3b, 3c, 5.  Paycom is authorised as a Payments Institution with permissions 3(a) and 3(c). We were delighted that the team from Currenxie joined us at last night's event. 
• Kraken, otherwise known as Payward Europe Solutions Limited and Payward Global Solutions Limited. Thus Kraken effectively (and for the time being) three crypto across two legal entitles according to the Central Bank Registers, i.e. 1 VASP registration (Payward Europe Solutions) and 2 x CASP authorisations  (Payward Europe Solutions and Payward Global Solutions).

Secondly, we remember those that left the Map this year (and thus far):

• Facebook Payments International Limited
• AVANTCARD DAC (Avant Money) - authorisation withdrawn 28 April 2025
• Bureau Buttercrane Limited, which leaves the map in name only following its rebranding to Lemfi Europe Limited follow an acquisition

Thirdly, the Map records only those companies which are registered or authorised.  Any discrepancy between the Map and the Central Bank's registers is due to the fact the Central Bank does not remove the names of e-money and payments firms that withdraw authorisation but instead mark these with the withdrawal date.

In preparing for last night's presentation we re-confirmed some fun facts about Ireland's fintech and finserv industries. Did you know that:

• The Central Bank of Ireland regulates 13,000 firms?
• Ireland is the 3rd largest exporter of financial services in Europe and is ranked 8th globally?
• 250+ of the world's largest finservs have operations in Ireland, including 22 of the world's top finservs and 21 of the top global banks?
• €5.1 trillion of net assets are domiciled in Ireland?
• 142,000 people are employed in financial services in Ireland with 60,100 of them employed directly in international financial services? Fintech Ireland reckons that of these, 9,000 are employed in fintech.
  
• 106,000+ people are technology sector employees and that 16 of the top 20 global tech companies operate in and from Ireland? 

• Learn more about the Irish Fintech Ecosystem at the Fintech Ireland Summit on Thursday 28 November 2025 here 
• You can find the Map here.
• You can find Fintech Ireland's presentation on a Fintech Bridge between Ireland and Hong Kong here
• You can find the slides to most of the events that Fintech Ireland has presented here​

Spotted by our Peter Oakes:
 
"The prepaid card and digital wallet market in Ireland is poised for significant growth, with forecasts predicting a 10.6% annual increase to reach USD 3.76 billion by 2025.
 
The market has demonstrated strong performance from 2020 to 2024, boasting a 13.8% CAGR, and is expected to continue on this upward trajectory at a CAGR of 9.1% from 2025 to 2029. By 2029, the market could expand to approximately USD 5.34 billion, up from USD 3.40 billion in 2024.
 
Key Trends and Drivers
Ireland's prepaid card sector evolves with the increasing acceptance of digital payments and their integration with digital wallets. Secure and convenient prepaid cards are now a preferred method for online shopping, while businesses use them for operational efficiency and expense management. As technology advances, consumers and businesses can expect more integrated payment solutions.
 
Businesses recognize the advantages of prepaid cards for managing finances, leading to scalable growth. With the market moving towards cashless transactions, prepaid cards offer secure alternatives for both online and in-store purchases. As digital shopping platforms proliferate, the demand for safe, efficient payments is expected to increase.
 
Steady Market Growth
The market's steady rise is driven by digital payment adoption and expanding e-commerce in Ireland. Prepaid cards offer a secure alternative as consumers shift away from cash transactions.
 
Prepaid cards are becoming widely accepted, with more industries and demographics adopting them. Advances in payment infrastructure and security features enhance consumer trust and card adoption.
 
The market is set to evolve, supporting Ireland's shift to a digitally inclusive financial ecosystem.
 
Integration with Digital Wallets
Integration of prepaid cards with digital wallets in Ireland is on the rise, streamlining fund management via mobile applications and offering users seamless transactions.
 
Advancements in mobile technology and consumer demand drive this trend, providing secure transaction processing and streamlined financial management.
Expect broader adoption in the next few years as more financial institutions and fintech companies introduce hybrid solutions.
 
Corporate Adoption of Prepaid Cards
Businesses in Ireland are adopting prepaid cards for expense management, employee benefits, and corporate gifting, seeking to streamline financial processes.
 
Operational efficiency and enhanced expense control are key drivers. Prepaid cards automate payments, reduce cash handling risks, and provide real-time tracking and financial oversight.
 
Business adoption is expected to rise as companies seek transparency and efficiency. Tailored prepaid solutions will cater to specific business requirements.
 
Competitive Landscape
The market is transforming with digital payment infrastructure expansion and rising consumer adoption. Traditional banks dominate, but fintech firms like Revolut drive competition and innovation. Regulatory changes continue to influence consumer protection and payment security. Strategic partnerships shape the market's evolution, enhancing offerings and expanding reach.
 
Market Dynamics and Player Insights
Key market players include Allied Irish Banks and Bank of Ireland, alongside fintech companies like Revolut entering the scene. Competition spurs innovation and diversification.
 
Fintech entrants are challenging traditional banks, leading to a broader array of financial products and improved services.
 
The market is ripe for competitive intensity, prompting advancements in service offerings to meet evolving consumer preferences.
 
Regulatory Changes
Regulatory developments by the Central Bank of Ireland enhance consumer protection, mandating transparency in fees for prepaid card providers.

The EU's PSD2 continues to shape competition and innovation while ensuring payment security, impacting providers' offerings.
 
Source https://www.businesswire.com/news/home/20250707646992/en/Ireland-Prepaid-Card-and-Digital-Wallet-Market-Growth-Dynamics-Databook-2025-Corporate-Adoption-of-Prepaid-Cards-Streamlines-Expense-Management-in-Ireland---ResearchAndMarkets.com

[First posted on Linkedin by Peter Oakes, a leading fintech and regulatory expert, on 6 July 2025]

Pursuing a bank authorisation in Ireland isn't cheap! But is the real question how valuable it will be?

Following a further investment in its Irish company of €2mn, UK Fintech bank Monzo Bank, has according to Eoin O'Hare of the Business Post, put in a total amount of €8 million since setting up its EU base here last year.

The Irish subsidiary (Mbeu Designated Activity Company), and Revolut rival, is really ramping up plans to use Dublin as its “gateway to European markets”.

TS Anil, the chief executive of Monzo, said last year that its new Irish office would act as a gateway to Europe, after it raised £340 million (€394 million) to bring its valuation to £4 billion.

The fintech’s Irish arm reported a pre-tax loss of £2.7 million for the financial year ending March 2025, according to the report. The same period saw £23,000 in total Irish income against global turnover of £1.24 billion, a 48 per cent increase, the bulk of which was reported in the UK.

Noting that Monzo’s European expansion plans were “progressing well”, the report said that it expected to “offer banking services in the European Union in the future”.

Edit - just a few days on 8 July 2025 the Financial Conduct Authority fined Monzo Bank in the UK FCA £21m for failings in financial crime controls.

"Monzo's customer base has grown rapidly, increasing almost tenfold from around 600,000 in 2018 to over 5.8 million in 2022. However, Monzo's financial crime controls failed to keep pace with its customer and product growth.

In particular, Monzo failed to design, implement and maintain adequate customer onboarding, customer risk assessment and transaction monitoring systems to mitigate the risk of financial crime. These systemic failings resulted in the FCA requiring a comprehensive, independent review of the firm's financial crime framework in August 2020."

Read this and find more money laundering typologies at Ireland's independent AML website MoneyLaundering.ie - starting here