Global clearing and transaction banking start-up The Bank of London has submitted an application for a European banking licence and made a commitment to invest EUR 200 million and hire 300 people in Luxembourg over the following five years.
Together, the European Central Bank and Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg have filed the official application. With the addition of Luxembourg, the company will have a presence in three of the key trading blocs of the world, joining other well-established hubs in London, New York, and Belfast.
The Bank of London previously raised USD 40 million in February of this year as part of an expansion of its USD 90 million Series C financing.
Read More: The Bank of London applies for EU banking licence
