BVNK Archives - Crypto Insider https://cryptoinsider.asia/post_tag/bvnk/ Crypto and Blockchain News Thu, 13 Oct 2022 08:22:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://cryptoinsider.asia/wp-content/uploads/2021/11/cryptocurrency-icon.png BVNK Archives - Crypto Insider https://cryptoinsider.asia/post_tag/bvnk/ 32 32 199368904 Crypto Banking Platform BVNK Wins Registration in Spain https://cryptoinsider.asia/crypto-banking-platform-bvnk-wins-registration-in-spain/ Thu, 13 Oct 2022 08:22:44 +0000 https://cryptoinsider.asia/crypto-banking-platform-bvnk-wins-registration-in-spain @ Crypto Insider

Registration as a virtual asset services provider with the Bank of Spain will allow BVNK…

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Registration as a virtual asset services provider with the Bank of Spain will allow BVNK to offer its services to corporates across the country.

Crypto banking and payments platform BVNK has won registration as a virtual asset services provider (VASP) in Spain. Registration with the Bank of Spain will allow BVNK to offer its services to corporates across the country.

BVNK helps businesses to provide crypto services that are not otherwise offered through existing payment and settlement providers.

Its business accounts support more than 100 cryptocurrencies, including bitcoin (BTC), ether (ETH), Cardano’s ADA and Solana’s SOL.

In an announcement on Thursday, BVNK referred to VASP registration in Spain as a “springboard for expansion” across the European Union (EU). Under the EU’s Markets in Crypto Assets (MiCA) legislation, which is on the verge of becoming law, crypto companies licensed in individual member states can market their services across the 27-country bloc, provided they meet minimum guarantees intended to protect investors and maintain stability.

London-based BVNK launched in October 2021 and raised $40 million in funding in May of this year. It has grown its headcount from 40 to 160 in the last 12 months, with plans to increase it to 250 in the next year.

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Crypto Banking Platform BVNK Raises $40M to Drive Regulatory Push https://cryptoinsider.asia/crypto-banking-platform-bvnk-raises-40m-to-drive-regulatory-push/ Thu, 12 May 2022 10:04:15 +0000 https://cryptoinsider.asia/crypto-banking-platform-bvnk-raises-40m-to-drive-regulatory-push @ Crypto Insider

BVNK currently process $2 billion in annualized payments which it aims to grow to serve…

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BVNK currently process $2 billion in annualized payments which it aims to grow to serve cross-border businesses with fast payments and banking in crypto and fiat.

BVNK, a banking and payments platform targeting businesses seeking crypto integration, has raised $40 million in Series A funding.

The round was led by Tiger Global and also featured digital asset custodian Anchorage Digital, token sale platform Coinlist and open banking startup TrueLayer.

BVNK launched last October with the aim of appealing to businesses looking to offer crypto services not currently served well by existing payment and settlement providers.

The London-based firm will use the funds to accelerate its push for regulatory licenses and expand into new markets, such as the U.S.

BVNK currently process $2 billion in annualized payments which it aims to grow to serve cross-border businesses with fast payments and banking in crypto and fiat, hoping to address the fees and slow processing times of legacy infrastructure that could be a barrier to adoption by businesses.

Its API-based platform enables merchants and other businesses to integrate crypto payments into their operations. Enabling businesses to accept payments in cryptocurrency but receive settlements in fiat could prove a boon for institutional and corporate adoption of crypto, which may be currently impeded by the challenges of converting it into fiat, on-ramping customers or managing payouts.a

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