Over 5,000 people are expected to descend on the RDS in Dublin over the next three days as Europe's largest cryptocurrency and fintech event, MoneyConf, returns to Ireland.

The event, which started in 2015, is organised by the team behind Web Summit.

Speakers include the founders and CEOs of some of the world's largest fintech companies and global banks.

There are two new conferences within MoneyConf this year - eXchange which will cover payments and CryptoConf which will cover cryptocurrencies and blockchain.

Web Summit CEO and Co-founder Paddy Cosgrave said the area of fintech is growing at a huge rate.

"The conference itself has nearly grown by threefold since we’ve moved it back to Dublin.

"Our number of speakers and even media have grown... there are more than 200 media flying in today from all over the world - it’s an exciting and fast-moving space".

Mr Cosgrave said there is no danger of the conference being moved away from Dublin in the "foreseeable future".

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"I think Dublin is an absolutely fantastic city for events up to 20,000. I think there’s a huge opportunity for the city to market itself even more aggressively to host international conferences, in particular in the RDS."

According to the Web Summit CEO, what makes MoneyConf stand out in the sea of a plethora of other fintech conferences is "the credibility of Web Summit".

"We’ve been able to trade on the success of Web Summit to attract a lot of great speakers."

Commenting on reports that Valencia had offered Web Summit €170m to move the conference there from Lisbon, Mr Cosgrave said "that is only the bid of the local area, so that’s only the city bid.

"The federal government of Spain has yet to even contribute so much as a penny to that bid, so that bid will expand very, very substantially.

"It’s already far larger than the bid that France made for the Rugby World Cup and I think it underlines the success of Web Summit as an Irish business."

On the prospect of Web Summit returning to Ireland at some point in the future, Mr Cosgrave said there are many European governments bidding for the conference and "if the Irish government wanted to do that, we’d listen to them with open ears".