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Almost two weeks after Britain voted to leave the EU, many in the financial industry have disagreed on the impact on London’s banks. “London has committed suicide as a leading fintech centre,” according to Jochen Siegert, chief operating officer of Traxpay, a Frankfurt-based payments platform.
The Financial Times reported today that Germany’s digital entrepreneurs not only believe that “London is finished”, but that they can steal its crown as Europe’s centre of fintech. This confidence is particularly felt in Berlin, the hub of Germany’s tech industry.
Europe’s Strongest Economy
Put simply, if the UK loses access to the European single market, London shrinks ... (read more)