BVNK hires ex-Currencycloud Anthony Man as General Manager for APAC
BVNK 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 seamlessly across 61+ countries.
BVNK has announced the appointment of Anthony Man as General Manager for APAC as part of the firm’s expansion plans for the Asia-Pacific region.
As head of the APAC business, he is responsible for its overall development, strategy, and execution, and is a member of BVNK’s global management team.
BVNK Co-Founder, Chris Harmse, temporarily relocated to Singapore in March to kickstart APAC expansion. As a result, BVNK has already established its founding team in Singapore and plans to expand its presence over the coming months.
Anthony Man was VP of Sales & New Business APAC at Currencycloud
Anthony Man joins BVNK after two years at Currencycloud, where he was VP of Sales & New Business APAC, based in Singapore. Other past roles include CCO at Wallex, Chief Strategy Officer at Investree, and Executive Director at Goldman Sachs, and Deutsche Bank.
The appointment of Anthony Man as General Manager for APAC brings a wealth of industry expertise and international experience to BVNK. Anthony’s proven leadership skills and track record of driving growth in his previous roles make him an invaluable addition to BVNK’s leadership team.
Jesse Hemson-Struthers, CEO of BVNK, said: “We are excited about the opportunities the APAC fintech market presents for BVNK. Singapore’s strategic location, vibrant fintech ecosystem, and forward-thinking regulatory environment make it the perfect base for our expansion. 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.
Anthony Man, General Manager for APAC, said: “I am excited to join the team of entrepreneurs, innovators and experts at BVNK as we build our team in APAC. Submitting our MPI application is an important first milestone in our APAC journey and an indicator of our intention as we expand our business across the region and globally.”
BVNK is on track to secure licenses in 15 markets
In May, BVNK submitted its MPI (Major Payment Institution) license application, regulated by the Monetary Authority of Singapore under the Payment Services Act. This marked a major step toward establishing its presence in the region. The application process reflects BVNK’s dedication to expanding operations globally.
BVNK 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 seamlessly across 61+ countries.
The company is on track to secure licenses in 15 markets within the next 12 months, building on its existing EMI and VASP licenses in UK and Europe, further solidifying its position as a global leader in the payments technology sector.
FX brokers can leverage BVNK
Combining crypto and fiat banking into one place, the platform covers payments, trading, custody, and yield solutions. FX brokers, for example, can leverage BVNK to incorporate cryptocurrencies into their standard operations, including accepting crypto deposits from their end customers who are traders.
BVNK helps foreign exchange brokers to incorporate cryptocurrencies into their standard operations by helping them accept crypto deposits from their end customers who are traders.
The firm facilitates crypto payment processing for traders in regions where crypto is the preferred payment method. Additionally, it enables cross-border crypto payments which improves internal capital efficienciency for brokers. The business assists brokers who want to convert crypto into fiat in order to post fiat trading margin with core liquidity providers.
BVNK can process all incoming crypto payments and settle in fiat without the need for brokers to hold crypto on their balance sheet, if this is the preference. All this is made possible via integrated APIs or managed through one user friendly portal.
Using stablecoins and cryptocurrencies for payments tackles some other very real pain points for foreign exchange brokers and traders alike. Client deposit options are often time limited by the 20th Century working practices of traditional finance. If a trader gets a margin call at 5pm on a Friday as their bank closes, the broker often has no option but to extend a credit line or reduce positions to meet the call. In contrast, crypto payments are usually sent, received & settled within a few minutes which can drastically improve the outcome of this risk event for both parties.
In late 2022, we spoke with co-founder Chris Harmse about BVNK, regulation, crypto, and utility in an interview that you can read and watch here.
