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BVNK acquires UK-licensed e-money institution to accelerate expansion

Through the acquisition of System Pay Services Ltd, BVNK will broaden its product offering

Jul 17, 2023
min read

We are thrilled to announce our acquisition of UK fintech, System Pay Services Limited (SPS Ltd), to accelerate our expansion. SPS Ltd is registered as an EMI (Electronic Money Institution) in the UK and offers a one-stop payment solution for businesses — providing e-money services, e-wallets, and multi-currency accounts for merchants to make, receive, and process payments.

Our CEO, Jesse Hemson-Struthers, 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.”

The FCA’s approval of the acquisition follows closely on the heels of our registration in Spain as a Virtual Asset Services Provider. Using the BVNK multi-currency account, customers can send and receive payments on all major schemes and blockchain networks, incorporate stablecoins into their payment flows, and settle funds from over 30 markets.

“This is really just the start for us. We’re building the modern payment rails that global businesses deserve — instant, borderless, and resilient. We believe that regulated, fiat-backed stablecoins combined with the best parts of traditional payments will provide the infrastructure needed to deliver this vision. We will continue to obtain new licences and build out our capabilities to provide our customers with an unparalleled offering,” said Hemson-Struthers.

If you’re passionate about building a next-generation global payments network, we’re actively hiring across engineering, product, commercial, and compliance functions. We’d love to hear from you! Visit our careers page here.


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