>Additionally, Apple card will be unlikely to see the product outside of the US market in the next 3 years. Even if we assume that Apple will be using the global presence of Goldman Sachs outside the US, Apple needs to start handling multi-currency wallets and expand beyond US dollars. Especially given the volatility of some strong currencies in the Forex markets during the time of Brexit and the Trump administration.

AFAIK You issues a Credit Card in UK with an UK financial institution, and it accept and settles in GBP, you issue one in EU, it settles in Euros. The problem is most part of the world has sane credit card processing fees, and not 3% or in some extreme cases close to 5% in US.

EU, ( correct me if I am wrong ) capped the CC processing fees to 0.3%.