By acquiring SPS, BVNK, a London-based crypto-powered payments and banking platform for companies, has obtained a UK Electronic Money Institution license.
The FCA has authorised the transaction, the specifics of which were not revealed, allowing BVNK to expand its product line.
Jesse Hemson-Struthers, CEO of BVNK, states: “BVNK’s objective has always been to bridge the gap between conventional and digital finance to provide merchants with a trustworthy contemporary payments platform.
“As a UK EMI licenced operator, BVNK will be able to serve leading global businesses who require partners to be regulated and enterprise compliant.”
The BVNK multi-currency account enables clients to make and receive payments on all significant schemes and blockchain networks, integrate stablecoins into their cost flows, and settle money from more than 30 marketplaces.
The announcement follows the Bank of Spain’s approval of BNVK as a Virtual Asset Services Provider, paving the way for EU development.
