• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Crypto Banking Startup BVNK Gains VASP Registration in Spain

Started by forex4you, Oct 14, 2022, 07:21 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

Crypto Banking Startup BVNK Gains VASP Registration in Spain

<p class="text-align-justify">BVNK, a London-based crypto-to-fiat
platform launched in October last year, has been registered by the Bank of
Spain as a virtual asset service provider (VASP).</p><p>The registration comes five months after
the business-to-business crypto payments provider <a href="https://www.financemagnates.com/cryptocurrency/news/bvnk-raises-40-million-in-a-series-a-funding-round/">raised $40 million</a> from a
Series A funding round led by Tiger Global.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">Our ambition is nothing less than to enable a generational shift in corporate banking and payments, and that, of course, requires funding. We're incredibly grateful to have received financial support from some of the world's leading investors. Read more: <a href="https://t.co/EODO7n6W1r">https://t.co/EODO7n6W1r</a> <a href="https://t.co/j4PeCa55IR">pic.twitter.com/j4PeCa55IR</a></p>-- BVNK (@BVNKFinance) <a href="https://twitter.com/BVNKFinance/status/1525033298581286912?ref_src=twsrc%5Etfw">May 13, 2022</a></blockquote><p>In a statement shared with Finance
Magnates on Thursday, BVNK noted that its presence in Spain will act as a
springboard for its expansion across countries of the European Union and beyond.</p><p>The registration also means that BNVK can
give "customers even greater confidence in the superiority of crypto-enabled
international payments," the startup said.</p><p>Jesse
Hemson-Struthers, BVNK's CEO, noted that: "gaining the Spanish registration, and
growing our  footprint in the EU, are important milestones in our drive to
become the 'go to' crypto-enabled payments platform for global business."</p><p>"The registration in Spain will be the
first of many similar landmarks and demonstrates our commitment to becoming a
globally recognised business that holds itself against the highest
international regulatory standards," added Maximilian von Both, BVNK's Chief
Legal, Risk and Compliance Officer.</p><p>BVNK believes the registration is a
validation of its efforts in designing compliance into its technology, features and services.</p><p>'Five Times Faster'</p><p>BVNK noted that compared to conventional
systems such as SWIFT, an international payments messaging system, its platform
offers fees that are 80% lower.</p><p>Moreover, the startup's platform reduces the settlement
period from days to minutes and simplifies the process of managing funds across
multiple jurisdictions, BVNK said.</p><p>"Cross-border payments made via the BVNK
platform are up to five times faster than Swift with fees reduced by up to
80%," Hemson-Struthers said.</p><p>He added that the startup was "aggressively building
out" its licensing and infrastructure to make it easier and faster for more
customers to enjoy the aforementioned features.</p><p>Growth</p><p>According to the press release, BVNK
expanded its headcount from 40 to 160 in 2021, and the company plans to further expand this number to 250 in the next year.</p><p>On top of that, the startup disclosed that it has made a
number of new hires in order to work with local regulators to expand its market reach. </p><p>Finance Magnates reports that BVNK in
July <a href="https://www.financemagnates.com/executives/moves/fx-expert-jonathan-cumberlidge-joins-crypto-banking-startup-bvnk/">hired Jonathan Cumberlidge</a>, a
senior executive and Sales Director at Finalto, to work as the startup's FX Sales
Director.</p><p>Meanwhile, BVNK in the press statement noted that it has processed
billions in annualized payment volume this year.</p><p>Furthermore, the startup said its business
account supports cross-border payments in more than 100 cryptocurrencies and 30
fiat currencies.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.

Source: Crypto Banking Startup BVNK Gains VASP Registration in Spain
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com