What licenses & registrations does BVNK and BVNK’s Partners have?

BVNK and the BVNK Partners hold various licences and registrations in their respective jurisdictions in order to offer their services to you. Below is an overview of BVNK and its partners' licenses and registrations.
If you have any questions, or would like to understand which party is relevant to based on the services provided to you please contact merchants@bvnk.com or your dedicated Account Manager.

 

BVNK Group


Europe
System Pay Services Ltd is a company incorporated in England and Wales with company registration number 11621763, and authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Reference Number: 901057).

System Pay Services (Malta) Ltd is a company incorporated in Malta with company registration number C66961, and authorised and regulated by the Malta Financial Services Authority as an Electronic Money Institution (Reference Number: C66961).

System Pay Services Solutions, Spain, S.L. is a company incorporated in Spain with tax identification number B-16987679. System Pay Services Solutions Spain, S.L. is registered as a virtual asset services provider with the Bank of Spain (Reference Number: D698) for virtual asset exchange services.

Note: System Pay Services Solutions, Spain, S.L. is listed in the Bank of Spain’s public register as a crypto service provider. The Bank of Spain supervises System Pay Services Solutions, Spain, S.L. in compliance with the Second Additional Provision of Law 10/2010 of 28 April 2010 on the prevention of money laundering and terrorist financing (Disposición Adicional Segunda de la Ley 10/2010, de 28 de abril, de prevención del blanqueo de capitales y de la financiación del terrorismo) (“Law 10/2010”). The crypto services of BVNK are not subject to prudential supervision by the Bank of Spain or any other European authorities, including the UK. This means that financial operational risks in respect of the crypto services are not monitored and there is no specific financial consumer protection.

North America
System Pay Services (US), Inc. d/b/a BVNK is a company incorporated in the state of Delaware with company registration number 7605266. The company is registered under trade name BVNK in jurisdictions across the United States.


Note: System Pay Services (US), Inc. d/b/a BVNK is not licensed as a bank in the US and does not provide banking services. BVNK is a registered Money Services Business with the US Financial Crimes Enforcement Network and licensed in various states as a money transmitter or equivalent (NMLS ID 2531294).

 

JURISDICTION

LICENSE STATE AGENCY
Alabama Money Transmitter License, 963 Alabama Securities Commission
Arizona Money Transmitter License, MT-2002578 Arizona Department of Insurance & Financial Institutions
Delaware Check Seller, Money Transmitter License, 041560 Office of the State Bank Commissioner
Florida Money Services Businesses Part II, FT230000480 Florida Office of Financial Regulation

Illinois

Money Transmitter License, MT.0000516

Illinois Department of Financial & Professional Regulation

Maryland

Money Transmitter License, 2531294

Maryland Office of Financial Regulation

Missouri

Seller of Checks and Money Transmitter, MO-25-9727

Missouri Division of Finance

Michigan Money Transmitter License, MT0025931 Department of Insurance and Financial Services
New Hampshire Money Transmitter License, 2531294MT

New Hampshire Banking Department

Pennsylvania Money Transmitter (License No.: 113271)

Pennsylvania Department of Banking and Securities

Vermont

Money Transmitter License, MT-2531294

Vermont Department of Financial Regulation

Wyoming

Money Transmitter License, 7386

Wyoming Division of Banking

 

California

If you have any complaints with respect to any aspect of the money transmission activities conducted at this location, you may contact the California Department of Financial Protection and Innovation at its toll-free telephone number, 1-866-275-2677, by email at consumer.services@dfpi.ca.gov, or by mail at the Department of Financial Protection and Innovation, Consumer Services, 201 Arena Boulevard, Sacramento, CA 95834.

 

BVNK Partners

Modulr FS Limited, is a company incorporated in England and Wales with company registration number 09897919, and is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Reference Number: 900573). Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) your funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011 – for more information please see here.

Modulr Finance B.V., is a company incorporated the Netherlands with company registration number 81852401, and is authorised and regulated by the De Nederlandsche Bank (DNB) as an Electronic Money Institution (Reference Number: R182870). Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act (Wet op het Financieel Toezicht, Wft) – for more information please see here.

Lead Financial Group, Inc. is a company incorporated in the state of Missouri, United States with charter number 00486773, and is an authorised Missouri state-chartered bank.

 

Was this article helpful?
6 out of 6 found this helpful