Online travel giant Booking.com is leading the central bank to push ahead with e-money products in Ireland

The subsidiary was registered in Ireland less than two years ago. Applying for an e-money license can often take up to two years.

Booking.com has not responded to inquiries about the functions it will perform under this license through this subsidiary from Ireland.

Recent job postings show that the company is establishing its finance team in Dublin.

The team will offer “financial services in the form of payment services and e-money products across brands”, according to the notices.

Booking.com is only the second company to receive an e-money license in Ireland since late 2020.

Last month, Gemini, the cryptocurrency exchange founded by the Winklevoss twins, secured a license allowing it to provide services here and in the EU.

Several large companies have secured such licenses in Ireland over the years, including fintech giants such as Stripe and Coinbase.

However, the processes for obtaining licenses at the Central Bank of Ireland have recently come under scrutiny in terms of the time it can take to obtain a permit.

Vivid Money, a German fintech company, recently withdrew its license application in Ireland, citing the long duration.

The Central Bank of Ireland said approvals take time “depending on the nature, size and complexity of the application”.

Other companies are currently going through the process, such as British fintech Wirex, which aims to complete its approval by next quarter.