IRELAND Law and Practice Contributed by: Niall Esler, Shane Martin, Laura Whitson and Coleen Wegmann, Walkers
Walkers (Ireland) LLP The Exchange George’s Dock IFSC Dublin 1 Ireland
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1. Fintech Market 1.1 Evolution of the Fintech Market
Upcoming Changes to EU Regulation Key regulatory developments and initiatives include the following. Simplification agenda The European Commission is driving simplification in financial regulation through omnibus packages to reduce regulatory burdens and strengthen EU com - petitiveness. As part of a December 2025 report, the Central Bank noted that it is also engaging in a domestic programme to enhance the effectiveness and efficiency of its work. In particular, the Central Bank is continuing to be more future-focused, includ - ing through continued digitalisation of the financial sector, with its work on the Digital Euro, its discus - sion paper on tokenisation, and the second Innovation Sandbox. Implementation of CRD VI On 9 July 2024, Directive (EU) 2024/1619 (CRD VI) entered into force with the aim of further harmonising the banking supervisory framework across the EU, including the provision of core-banking services into the EU by non-EU undertakings. CRD VI requires non- EU (third-country) undertakings to establish an author - ised EU branch to commence or continue carrying out certain core-banking activities in an EU member state, unless an exemption applies. The deadline for member state transposition of CRD VI was 10 January 2026, and the requirements for the establishment and authorisation of a branch in the EU must be applied from 11 January 2027.
Ireland is home to well-developed and globally recog - nised technology and financial services sectors, and is one of the leading European jurisdictions for fintech activity. The Central Bank of Ireland (Central Bank) has recognised that the fintech sector is of increasing importance to both the Irish and EU financial services landscapes, and that the industry has seen significant growth in recent years. Key Trends Over the Past 12 Months Fintech activity continues to be particularly prevalent in the payments sector, although it is not limited to this area. Key trends in the fintech sector over the past 12 months include the following. • The rise of new banking models – the rise of neobanks is reshaping banking at a consumer level. Monzo received its banking licence from the Central Bank in December 2025. • Growing crypto-asset services sector – significant growth has appeared in the crypto-asset service provider (CASP) sector, with 11 CASPs authorised by the Central Bank as of February 2026. • AI implications – AI and machine learning are transforming financial services by enabling busi - ness model opportunities for firms and enhancing customer experience. • Tokenisation – the use case of tokenising real- world assets gained increasing traction throughout 2025, with legacy players exploring tokenisation structures to seek operational efficiencies, particu - larly in the asset management sector.
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