Strategy 04 · Infrastructure
Compliant, fast, easy to use — in that order. We invest in payment and settlement platforms that treat the regulatory perimeter as part of the product, and that move money quickly at the settlement layer rather than only in the interface.
A platform whose model depends on regulatory ambiguity is not early. It is uninvestable.
The thesis
Most payment businesses fail on the first test long before the market judges the other two. We run them as gates, not as scores.
01
Either its own authorisation, or a documented, durable arrangement with a licensed institution — with safeguarding, AML, monitoring and reporting that a supervisor would recognise. We look at how the platform handles its worst month, not its best demo.
02
Speed measured where it matters: irrevocable settlement, funds availability, payout finality and reconciliation — not screen latency. Instant rails, account-to-account flows and modern settlement models that compress the cash cycle rather than hide it.
03
Adoption without a bespoke integration project: clear APIs, sane onboarding, predictable pricing and support that survives contact with a real merchant. Ease of use is what converts a pilot into volume.
Where we invest
Platforms built on instant credit transfers, open banking initiation and account-to-account collection — cheaper and faster than card flows where the use case allows it, with refund and dispute handling designed in rather than bolted on.
Wallet and account infrastructure, dedicated IBANs, prepaid and virtual card programmes — where safeguarding architecture, programme-manager economics and scheme relationships determine whether the business is durable.
Payments embedded inside software a business already runs on — marketplaces, platforms, treasury and industry verticals — where distribution is owned and acquisition cost is structurally lower than in standalone payments.
Settlement models that use stablecoins or digital assets to move value across borders while producing a complete audit trail — regulated custody, screened counterparties, disclosed conversion. Infrastructure exposure, not token speculation.
Unfair advantage
BLK Group’s own brands hold and operate payment, e-money and digital-asset capability. Diligence in this strategy is conducted by people who see settlement failures, scheme rules and compliance reviews as part of their week.
VIP360
E-money issuance, IBANs, card programmes, SEPA and SWIFT remittance and multi-currency FX delivered by FCA- and FINTRAC-regulated group entities across 170+ countries.
XCHANGE360
Crypto and stablecoin acceptance, OTC execution, custody and payout. Swiss operations are AML-supervised through ARIF, a FINMA-recognised self-regulatory organisation — not a prudential licence.
BLK Tech · VIPTECH
Gateways, wallets, fraud prevention and custody technology the group already runs — a reference point for judging a target’s architecture claims.
Boundary
BLK Finance does not provide payment, e-money or digital-asset services. Those are contracted with the licensed group entity under its own licence and terms, and any dealing with a fund’s portfolio company is governed by the fund’s conflicts policy.
Three gates in order: a clear regulatory perimeter, through its own authorisation or a documented arrangement with a licensed institution; genuine speed at the settlement layer, not just the interface; and adoption that does not require a bespoke integration project.
It invests in businesses and infrastructure, not in speculative token exposure. Where a platform uses digital assets or stablecoins for settlement, the case rests on regulated flows, custody arrangements and auditability — not on token price appreciation.
PSD2 and its successor package, the e-money regime, instant payment requirements and MiCA define where a platform can operate and what it must control. We treat regulatory dependency as a core underwriting variable rather than a compliance afterthought.
Risk note: investments in payment and settlement platforms carry regulatory, licensing, operational, technology, cyber, counterparty, concentration and liquidity risk, and are illiquid and long-term. Regulatory change can impair or eliminate a business model. Where digital assets are involved, values are volatile and custody arrangements carry their own risks. Nothing on this page is an offer or a recommendation; fund-specific terms and risk factors are set out only in the relevant fund’s documents.