Currensea targets Europe with new payments licence

By Parth Prabhudesai

Currensea has secured a payments institution licence from De Nederlandsche Bank, enabling the company to expand its services across Europe through a newly established subsidiary, Currensea Europe B.V

The licence will allow Currensea to operate across the European Economic Area (EEA), with plans to introduce co-branded multi-bank debit cards in key continental markets. The company said the expansion will be driven through partnerships with established brands and financial institutions.

The European operations will be led by Leon Muis, who has been appointed CEO of Currensea Europe and head of Europe. He brings experience from roles at Rabobank, ING, Fiserv and Yolt. The leadership team also includes Simone Aurighi as chief compliance and risk officer and Maurice Jongmans as supervisory board chair.

Currensea provides a travel-focused debit card that connects directly to users’ existing bank accounts using open banking technology. The card supports transactions in more than 180 currencies through the Mastercard network, allowing users to make payments abroad without the need for a separate bank account.

A company statement said the new licence will support its strategy to scale across Europe and reach a wider customer base through local partnerships.

Currensea has been active in the UK since 2019 and has partnered with brands such as Hilton Hotels, Marriott Bonvoy and United Airlines to offer co-branded travel cards.

The company is backed by investors including Blackfinch Ventures and 1818 Venture Capital.

With regulatory approval in place, Currensea is now positioned to extend its open banking-based travel payment services across European markets.