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BVNK Launches Digital Asset Financial Services Platform

UTC by Kofi Ansah · 3 min read
BVNK Launches Digital Asset Financial Services Platform
Photo: Unsplash

Hemson-Struthers also revealed that one of the immediate aims of BNKV is to build its product features and acquire operating licenses from regulatory bodies, across Europe.

New digital asset financial services platform BVNK has announced plans to break down barriers that prevent businesses and financial service providers from reaping the numerous benefits of cryptocurrencies. The London-based BNVK describes itself as a “digital asset financial services platform” and is out to target businesses that want to invest in cryptocurrencies but are not effectively been served by current crypto providers.

BVNK, according to reports, wants to make crypto financial services more accessible, to its clients and help them manage treasury, payment, and investment digital asset operations from a single account. The London-based firm also plans to appeal to fintech firms, corporate service providers, wealth managers, and private banks that want to offer digital asset services to their clients, particularly those who fall between retail and multi-million dollar institutional markets.

Jesse Hemson-Struthers, Co-founder and CEO of the new venture told reporters that, BNVK is looking to close the gap in the mid-market and become the go-to name amongst the ever-growing international businesses and partners for digital asset financial services.

“There is a clear appetite among mid-market enterprises for financial services rooted in the world of cryptocurrencies. It will take time, however, before mainstream banks incorporate digital assets,” he stated. Hemson-Struthers was the former CEO at Coindirect, another London-based firm that offered a cross-border foreign exchange, powered by digital assets, in emerging markets.

Hemson-Struthers also revealed that one of the immediate aims of BNKV is to build its product features and acquire operating licenses from regulatory bodies, across Europe. The platform will also offer a business account for crypto settlement, exchange, and payment, as well as access to markets for high-volume trades and a yield service where funds are deployed to broker

BNKV will include a business account that provides a ‘Know Your Business’ process for access to GBP/EUR/USD and digital asset wallets which will give firms the option to manage settlement, exchange, and payment from a single account interface.

“In a world of low-interest yields and outdated infrastructure, digital assets are rapidly increasing in appeal. Unsurprisingly, there is a clear appetite among mid-market enterprises for financial services rooted in the world of cryptocurrencies,” Hemson-Struthers told reporters.

He, however, explained that it will take time before traditional or mainstream banks and financial institutions incorporate digital assets. Hemson-Struthers highlighted the fact that existing crypto firms currently only attend to the ‘extreme ends of the customer spectrum’ citing either small-scale retail customers or multi-million dollar institutional clients as examples.

BVNK’s new interface also includes BVNK Yield, which allows clients to put their money to work and earn interest, as well as BVNK Markets, which allows clients to trade massive volumes of digital assets. BVNK Insights, a market information service, was also developed by the company to assist clients in making informed decisions.

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Cryptocurrency news, FinTech News, News
Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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