Thursday, December 8, 2022

BVNK Operates as a Virtual Assets Service Provider in Spain

London-based crypto banking and payment platform BVNK received approval to operate as a virtual asset service provider (VASP) in Spain. BVNK won the registration that it submitted to the Bank of Spain to provide its products and services in that jurisdiction.

Consequently, the registration gives the payment platform the authorization to offer corporates in Spain its services. 

Chief Legal, Risk, and Compliance Officer at BVNK Maximilian von Both, said “The registration in Spain will be the first of many similar landmarks and demonstrates our commitment to becoming a globally recognized business that holds itself against the highest international regulatory standards.”

Notably, this registration serves as a springboard for BVNK expansion into the European Union (EU). The company was launched only a year ago by co-founders Jesse Hemson-Struthers and George Davis. Currently, Hemson-Struthers serves as the firm’s Chief Executive Officer (CEO) while Davis is the Chief Product Officer (CPO). 

BVNK Offers Easy Access to Crypto Offerings

Uniquely, the firm provides crypto offerings that are not ordinarily made available through existing payment and settlement providers. BVNK attempts to create easy access to crypto financial services for its clients.

Precisely, some of the services it offers clients are management of treasury, payment, and investment operations for digital assets. These services are offered all from a single account.

This single-account interphase can also serve as a host for BVNK Yield. Markedly, the BVNK Yield is a platform that permits clients to stake their capital and earn interest in return. Clients can also gain access to BVNK Markets for trading large volumes of digital assets.

Lastly, customers are able to get market intelligence information to make trading decisions from BVNK Insights.

The London-based firm provides a business account that allows companies to go through a ‘Know-your-Business’ process. Thereafter, they are allowed access to GBP/EUR/USD and digital asset wallets. Furthermore, the BVNK business platform allows the use of about 100 cryptocurrencies which includes Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Solana (SOL). 

So far, BVNK has recorded growth in all its hubs in London, Cape Town, and Berlin. Altogether, the firm has a headcount of 160, a huge growth from its previous 40 staff members. In the next twelve months, BVNK plans to increase its headcount to about 250 members even as it expands to other markets.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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