Crypto Bank Service Provider BVNK Has Registered as a Virtual Asset Service Provider in Spain

Crypto banking service provider BVNK has registered in Spain as a virtual asset service provider (VASP), allowing it to provide services to businesses across Spain, CoinDesk reported. BVNK helps businesses provide cryptographic services that existing payment and settlement providers cannot. BVNK called Spain’s VASP registration a “springboard for expansion” across the European Union (EU), with crypto firms licensed in individual member states able to roll out in 27 countries under the soon-to-be-law EU Market in Cryptoassets (MiCA) legislation Its services, provided they meet the purpose of protecting investors and maintaining stability. London-based BVNK launched in October 2021 and raised $40 million in funding this past May. Its headcount has grown from 40 to 160 in the past 12 months and plans to grow that to 250 in the next year.