It’s not an uncommon feat to hear about multi-functionality financial service companies assisting traditional systems into disruptive technologies. The concept of such will have its place in the entire finance industry in the coming future. BVNK is aiming for itself as a “digital-asset financial services platform”, offering all sorts of services related to crypto to traditional businesses.
This London-based company plans to appeal to fintech firms, corporate service providers, wealth managers, and private banks. In addition, they’ll appeal to those who want to offer digital asset services to their clients. They are targeting those groups between retail and multi-million dollar institutional markets.
Talking about the platform, Co-founder and CEO Jesse Hemson-Struthers said:
“BVNK aims to plug that gap in the mid-market and become the “go-to” choice among fast-growth 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.”
Describing its operations, the bank will provide a business account for settlement, exchange & payment of crypto and access to large-trade volumes. Moreover, the bank will also provide a yield service where brokers receive the deployed funds, earning interest.
As of now, BVNK’s immediate aim is to launch its product features alongside acquiring operating licenses in Europe. In addition, they are keen to capitalize on the solid growth of crypto transactions in the region which is the highest worldwide.