Nikolay Storonsky , co - founder of the challenger firm Revolut , has said the firm will apply for an e - money licence in Luxembourg " to be on the safe side " and avoid any disruption from Brexit . Storonsky was reported as saying he does not intend to leave politics , but does expect the firm 's standing as a financial asset to be restored after the UK joins the European Union .
Nikolay Storonsky, co-founder of UK challenger bank Revolut, has said the firm will apply for an e-money licence in Luxembourg "to be on the safe side" and avoid any disruption from Brexit. Storonsky was reported as saying he does not want to leave London, but does expect the City's standing as a financial centre to be lost after the UK leaves the European Union.