BVNK, a financial services provider, announced today the
acquisition and activation of its Electronic Money Institution (EMI)
license in Europe. The development includes the acquisition and
operationalization of System Pay Services (Malta) Limited, the EU EMI entity
based in Malta, along with the activation of its UK EMI.
This development enables BVNK to offer enhanced
Business-to-Business payment services for both Euro (EUR) and Pound Sterling
(GBP), facilitating more efficient operations and enhanced customer support
capabilities.
The B2B payments sector, valued at approximately $113
trillion, is anticipated to grow to $137 trillion by 2027, highlighting the
increasing demand for global payment solutions as businesses expand across
borders. BVNK aims to address this demand by unifying banks and blockchains
through its modern payments platform, allowing businesses to send and receive
payments in any currency, whether digital or fiat.
With its newfound status as a fully licensed electronic
money institution in both Europe and the UK, BVNK can now provide named
vIBANs in EUR and GBP, offering fast access to prominent payment schemes in the
UK and Europe, including SEPA, SEPA Instant, CHAPS, and Faster Payments.
Big news 📣 After months of work across our business, we’re excited to share that our Electronic Money Institution (EMI) licence in Europe is live and operational.
This means we can offer enhanced B2B payment services for both EUR and GBP. pic.twitter.com/MHazinAfUK
— BVNK (@BVNKFinance) February 21, 2024
BVNK’s Strategic Expansion in the Asia-Pacific Region
BVNK
is strategically expanding in the Asia-Pacific region, appointing
Anthony Man as Regional General Manager and establishing a team in Singapore,
as reported by Finance Magnates.
It aims to secure licenses in 15 markets within a year, starting with a Major
Payment Institution license.
The Co-Founder, Chris Harmse, relocated to Singapore to
oversee expansion. Man, previously VP at CurrencyCloud, leads as Managing
Director. The CEO, Jesse Hemson-Struthers, highlights Singapore’s advantages
like its location and fintech ecosystem. BVNK gained an Electronic Money
Institution license in the UK in 2022 through acquiring System Pay Services,
enabling services like e-money, e-wallets, and multi-currency accounts under
FCA approval.
BVNK, a financial services provider, announced today the
acquisition and activation of its Electronic Money Institution (EMI)
license in Europe. The development includes the acquisition and
operationalization of System Pay Services (Malta) Limited, the EU EMI entity
based in Malta, along with the activation of its UK EMI.
This development enables BVNK to offer enhanced
Business-to-Business payment services for both Euro (EUR) and Pound Sterling
(GBP), facilitating more efficient operations and enhanced customer support
capabilities.
The B2B payments sector, valued at approximately $113
trillion, is anticipated to grow to $137 trillion by 2027, highlighting the
increasing demand for global payment solutions as businesses expand across
borders. BVNK aims to address this demand by unifying banks and blockchains
through its modern payments platform, allowing businesses to send and receive
payments in any currency, whether digital or fiat.
With its newfound status as a fully licensed electronic
money institution in both Europe and the UK, BVNK can now provide named
vIBANs in EUR and GBP, offering fast access to prominent payment schemes in the
UK and Europe, including SEPA, SEPA Instant, CHAPS, and Faster Payments.
Big news 📣 After months of work across our business, we’re excited to share that our Electronic Money Institution (EMI) licence in Europe is live and operational.
This means we can offer enhanced B2B payment services for both EUR and GBP. pic.twitter.com/MHazinAfUK
— BVNK (@BVNKFinance) February 21, 2024
BVNK’s Strategic Expansion in the Asia-Pacific Region
BVNK
is strategically expanding in the Asia-Pacific region, appointing
Anthony Man as Regional General Manager and establishing a team in Singapore,
as reported by Finance Magnates.
It aims to secure licenses in 15 markets within a year, starting with a Major
Payment Institution license.
The Co-Founder, Chris Harmse, relocated to Singapore to
oversee expansion. Man, previously VP at CurrencyCloud, leads as Managing
Director. The CEO, Jesse Hemson-Struthers, highlights Singapore’s advantages
like its location and fintech ecosystem. BVNK gained an Electronic Money
Institution license in the UK in 2022 through acquiring System Pay Services,
enabling services like e-money, e-wallets, and multi-currency accounts under
FCA approval.
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- Source: https://www.financemagnates.com//fintech/bvnk-expands-operational-reach-with-emi-license-for-european-markets/
