London-based financial technology startup TransferWise is applying for a money-transfer licence in Brussels, in a bid to ensure its business is not disrupted if Britain crashes out of the European Union without a divorce deal, it said on Thursday.
The money transfer firm will open an office in Belgium's capital, but continue to expand its global headquarters in London where it employs more than 200 people, it said.
"A Belgian licence ensures we can continue to provide a great service globally to our customers, whatever happens with the Brexit deal," Chief Executive Kristo Kaarmann said in a statement.
TransferWise chose Brussels as a post-Brexit EU hub because the city is at the heart of the bloc's institutions, Kaarmann said. The company was also attracted by the Belgian central bank's understanding of the payments sector and openness to innovation, he added.