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Payoneer opens Dublin hub for European payments as Brexit looms

Payoneer, a New York-based fintech, has obtained an e-money license from the Central Bank of Ireland and has opened a hub office in Dublin office to prepare for the post-Brexit environment. The split will require some separation of its U.K. offices to manage its European business, according to a company press release.

The CBI designated Payoneer as an Electronic Money Institution, which will allow it to seamlessly continue managing its customers operating in the European Economic Area countries. 

Payoneer supports various sellers on numerous e-commerce marketplaces across Europe, including Amazon, Cdiscount, Joom and Rakuten. 

"This license is the culmination of our efforts to ensure stability and continuity for our customers," Payoneer CEO Scott Galit, said in the release. "With this investment, we are able to continue to support the growth of our customers around the globe, keeping cross-border commerce grow smoothly, regardless of the regulatory changes triggered by Brexit."

Patrick de Courcy, a 20-year veteran who previously ran Payoneer’s APAC operations, will run the office. James Allum, who recently joined the company as VP regional head of Europe, will continue to lead the UK and other European countries.