Legal company nameSystem Pay Services Ltd · System Pay Services (Malta) Ltd · System Pay Services (US), Inc. · BVNK Services Limited
Year founded2021
Headquarters / registered countryLondon, United Kingdom
Websitewww.bvnk.com
Last checked08.10.2026
According to its official website, BVNK is a payments company founded in 2021 and now part of Mastercard that provides businesses with infrastructure for stablecoin payments. Through its API it offers fintechs, marketplaces, global payroll providers, brokerages and digital-asset businesses services such as sending stablecoins from a fiat balance, accepting stablecoin payments with settlement in fiat, stablecoin and fiat wallets for their customers and virtual cards linked to stablecoin balances; it says it serves more than 130 countries. The site states that in the United Kingdom fiat services are provided by System Pay Services Ltd, an FCA-authorised electronic money institution (FRN 901057), that System Pay Services (Malta) Ltd is authorised by the MFSA as an electronic money institution and as a crypto-asset service provider under MiCA, and that in the US System Pay Services (US), Inc. is registered with FinCEN as a money services business and holds money transmitter licences in various states. It says it is not a bank and that crypto-assets are not regulated by the FCA in the UK. This information is the company's own statement.
Account Details
ACCOUNT TYPESBusinesses and platforms only
MIN. DEPOSITNot stated
PLATFORMSBVNK API
PRODUCTSSending and receiving stablecoin payments · Settlement in fiat · Stablecoin and fiat wallets for customers · Virtual cards linked to stablecoin balances · Virtual accounts
Licences and regulation
FCA (United Kingdom)
Licence no.FRN 901057
Licence holderSYSTEM PAY SERVICES LTD
ScopeListed in the FCA register as an Authorised Electronic Money Institution under SYSTEM PAY SERVICES LTD (FRN 901057) since 6 Nov 2020.
StatusVerified
MFSA (Malta)
Licence no.LEI 984500640Z8ADE893D04
Licence holderSystem Pay Services (Malta) Limited
ScopeListed in ESMA's MiCA register of crypto-asset service providers (CASP), authorised by the Malta Financial Services Authority since 13 Feb 2026 (trading as BVNK); custody, crypto exchange, order execution and transfer services, passported to EEA countries.
StatusVerified
MFSA (Malta)
Licence no.C66961
Licence holderSystem Pay Services (Malta) Ltd
ScopeThe company states that System Pay Services (Malta) Ltd (company no C66961) is authorised by the MFSA as an electronic money institution. The record could not be verified because the MFSA register could not be read.
StatusPending verification
User complaints
User reports found online are classified by topic. The charts show how reports are distributed; the reports are compiled from records on platforms that verify users and screen out fake reviews.
Period reviewed: January 2024 – October 2026
Withdrawal / payment: 3
Account / trading conditions: 1
Customer support: 1
No. 425 for most complaints among the 532 institutions with complaint records (918 institutions listed on the site).
The complaint distribution is based on the 1-star reviews on BVNK's Trustpilot page (5) as of 8 October 2026; one person's reviews count once, and records about fake sites and third parties using the BVNK name are left out. Across the complaints, withdrawals and deposits that were not processed or were blocked, drawn-out onboarding that was then cancelled, and no access to live support stand out.
Sources and verification history
Official company sourcesbvnk.com — homepage, About us page, licences article in the help centre (updated 17 Aug 2026)
Regulator recordsFCA — SYSTEM PAY SERVICES LTD, FRN 901057 (register.fca.org.uk) · MFSA — System Pay Services (Malta) Limited, MiCA crypto-asset service provider, LEI 984500640Z8ADE893D04 (ESMA MiCA register, esma.europa.eu)
Company registerCompanies House — SYSTEM PAY SERVICES LTD, company no 11621763, incorporated 14 Oct 2018
User feedback sourcesTrustpilot · Şikayetvar · WikiFX