BVNK appoints first APAC GM ahead of push in region
BVNK has earmarked APAC as a region for growth, calling it a “vibrant ecosystem”.
BVNK, the crypto payments company, has appointed its first general manager for the APAC (Asia-Pacific) region, which it has earmarked as a growth market.
The London-headquartered startup, which only launched in 2021, has appointed former Currencycloud executive Anthony Man as APAC general manager, heading up its Singapore-based division.
BVNK CEO Jesse Hemson-Struthers heralded Singapore’s “strategic location”, “vibrant fintech ecosystem” and “forward-thinking regulatory environment” as key to basing itself there.
The appointment of Man follows BVNK submitting its MPI (Major Payment Institution) license application for the APAC region in May, as it looks to establish itself in the region.
Further underscoring its presence in the region, co-founder Chris Harmse temporarily relocated to Singapore earlier this year, to help bolster its launch and has plans to boost its team in the region.
According to co-founder and chief product officer George Davis, BVNK wants to be the “Stripe of crypto”.
The London-based startup, backed by Tiger Global, wants to appeal to an array of financial services firms that want to offer digital asset services to their clients.
It helps firms incorporate cryptocurrencies into corporate treasury operations, enabling transactions from fiat currencies into crypto.
Specifically, it combines traditional payments infrastructure with distributed ledger technology (DLT) to create modern rails for moving money, enabling its customers to send, receive and convert traditional and digital currencies across different countries.
It already has an Electronic Money Institution licence in the UK and says it is on track to secure licences in 15 markets within the next 12 months.
"We are excited about the opportunities the APAC fintech market presents for BVNK," said Hemson-Struthers.
“We are confident that our presence in Singapore will enable us to deliver tailored payment solutions to our customers in the APAC region while contributing to the growth and development of the local fintech landscape."