Moneybrain CEO Lee Birkett sat down with our marketing manager Holly Sach to shed light on the rationale behind their relocation to Jersey.
Watch the video or read on below for a full summary.
Moneybrain is a global peer-to-peer SuperApp, offering a secure digital bridge between traditional currencies and cryptocurrencies through its advanced crypto wallet and payment platform. With assistance from Digital Jersey, they recently relocated to the island from the UK.
Moneybrain: Trailblazing in Finance since 2002
Since their establishment in 2002, Moneybrain have strategically adapted to the technological landscape and are now primarily focused on digital currency and assets. In 2018 they established the asset-referenced digital currency BiPS on the Ethereum network to buy and sell leading digital assets within the SuperApp.
Jersey: A Strategic Choice for Fintech Innovation
When it came to deciding on where to move, Lee emphasises the importance of Jersey’s forward-thinking approach. Jersey’s position as the first jurisdiction to launch a bitcoin fund, coupled with the stability of the British pound and a robust legal system, played pivotal roles in the decision-making process.
Collaboration with Digital Jersey
Lee recognises the instrumental role played by Digital Jersey in facilitating Moneybrain’s relocation. For starters, the signing of a memorandum of understanding with Mastercard Europe was key, and will facilitate the next stage of their development. More widely, Digital Jersey’s proactive engagement and collaboration with Moneybrain made the latter’s arrival and business development “turbocharged – 10x than what you would expect anywhere else”.
Digital Jersey’s Chris Knight, who was a key part of the collaboration, commented, “The relocation of Moneybrain was a concerted team effort between DJ, Locate Jersey and Carey Olsen. Its successful onboarding blazes a trail for other FinTech businesses, a task which Moneybrain is keen to assist with in future”.
Paving the Way
Moneybrain’s relocation to Jersey helped to showcase how Digital Jersey can foster a conducive environment for fintech innovation, paving the way for future developments and relocations in the digital finance landscape.
As Digital Jersey’s Ed Hatton said, “Moneybrain is a significant prospect for the island FinTech sector. Not only have they become the island’s first retail focused VASP, they have provided a wealth of technical and compliance knowledge, sharing this with industry, the regulator and government stakeholders, as well as being quick to embrace and collaborate with the wider business community.”
We’re looking forward to welcoming more future-forward businesses to our island!