Global crypto-powered payments and banking platform for businesses in London, BVNK, has recently announced the acquisition of SPS to gain a UK Electronic Money Institution licence. BVNK will be able to expand its product offerings thanks to the FCA’s approval of the deal – details of which were not disclosed.
Jesse Hemson-Struthers, the CEO, of BVNK, said: “It’s always been BVNK’s mission to bridge the gap between traditional and digital finance to offer merchants a modern payments platform that they can trust. As a UK EMI licensed operator, BVNK will be able to serve leading global businesses who require partners to be regulated and enterprise compliant.”
Customers can send and receive payments on all major schemes and blockchain networks using the BVNK multi-currency account, as well as incorporate stablecoins into their payment flows and settle funds from over 30 markets. The information is released shortly after BNVK received approval from the Bank of Spain to operate as a provider of virtual asset services, which will serve as a launchpad for growth throughout the EU.