London-based Exchange Capital Partners (ECAP) has set up an office in Douglas.

Following several years of supporting the island’s companies across the e-gaming, cryptocurrency, and blockchain businesses, ECAP has set up a permanent Isle of Man base in Douglas.

The company, which finds banking, foreign exchange and payments for its clients will be led on island by directors Luke Adebiyi and Lisa Karran.

ECAP co-founder Brook Longhurst said: ‘When establishing the vision for our Isle of Man operation we wanted a team who would be able to continue to deliver the particular blend of agility and long-term sustainable solutions that we have been successful at providing to clients to date.

‘Luke and Lisa are those two key personnel, their infectious positivity and tenacious work ethic, along with their backgrounds in financial services, banking and eGaming will no doubt allow ECAP to flourish and become a cornerstone of the local financial services sector for years to come. We are delighted to finally put down roots on the island.”

Mr Adebiyi said: ‘When I was asked to join the new ECAP Isle of Man operation, it was an easy yes! I’m really looking forward to driving new international business, supporting industries that are already thriving in the island’s economy and looking at new and emerging sectors.’

Mrs Karran said: ‘Access to banking continues to be a major challenge to the island’s economic growth, having another option locally is very positive not only for our digital sector but also in terms of our attractiveness to inward investment.

‘Having known the ECAP team for a couple of years and experienced their proactive approach to global treasury management as a whole, I am delighted to be involved with setting up and growing their Isle of Man company.’

ECAP will be based on Prospect Hill.