Tech & Science
Paris FinTech Startups! Meet TechCrunch this week
In this strange"Age of Brexit"unexpectedly the chips are all up in the air. And while London remains the financial capital of Europe, that crown is now up for grabs.
One of London's biggest sectors, in regards to its monetary sector, is its position as the multi-national clearing home of the European economy.
It's estimated that removing the euro clearing from London as a result of the U.K.'s Brexit vote could cost banks $77 billion in extra collateral, according to the London Stock market.
Clearing has actually become a battleground considering that Britain's vote to exit the European Union. Both French and German leaders argue that euro operations shouldn't stay in London once the U.K. leaves. It's also said by some that if the clearing operations are removed, they will never come back to London.
So if that occurs, then where would they go? Well Paris is gunning for this gem in the crown. And, at the very same time, in the last couple of years, a formerly inactive FinTech startup scene has burst forth.
This week, the very first ever Paris FinTech Online forum will be placed on and I'll exist to meet and greet with the emerging FinTech scene.