---
title: "Monavate LTD SWIFT/BIC code MNVTGB22XXX · United Kingdom | Elucidate"
description: "Licensed in the United Kingdom: Authorised E-Money Institution (FCA). SWIFT/BIC code MNVTGB22XXX for Monavate LTD, United Kingdom. Head-office BIC."
url: https://elucidate.co/directory/monavate-ltd-mnvtgb22
---
1. [Directory](https://elucidate.co/directory)
2. [United Kingdom](https://elucidate.co/directory/country/gb)
3. Monavate LTD
United Kingdom · Payments & e-money
# Monavate LTD
Monavate Ltd is a private limited company registered in England and Wales, with its office in Duxford, Cambridge. The FCA authorises the firm as an electronic money institution under Firm Reference Number 901097. Monavate Holdings Limited owns it, and Exodus Movement, Inc. (NYSE American: EXOD) acquired Monavate Holdings Limited in May 2026. The firm issues payment cards and provides BIN sponsorship, processing and programme management to fintech, Web3 and business clients as a principal member of Mastercard, Visa and Discover.
Register status
Licensed in the United Kingdom
Authorised E-Money Institution · FCA
Prudential licence
[1 licence or registration ↓](https://elucidate.co/directory/monavate-ltd-mnvtgb22#licences)
BIC **MNVTGB22XXX** LEI **[9845004DSE5B857A7245](https://search.gleif.org/#/record/9845004DSE5B857A7245)** [Licence no. **901097**](https://elucidate.co/directory/monavate-ltd-mnvtgb22#licences) Reverse billing Head-office BIC only [Claim this profile](https://elucidate.co/directory/monavate-ltd-mnvtgb22#claim)
## Licences and registrations
Held by Monavate LTD (LEI 9845004DSE5B857A7245). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [FCA Financial Services Register - E-Money Institutions](https://elucidate.co/directory/register/fca-emi) FCA Linked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised E-Money InstitutionE-Money / Stored Value Institution | 901097 | [United Kingdom](https://elucidate.co/directory/country/gb) | Active | 2020-11-04 | — | - Payment services - E-money / stored value | [Search the register ↗](https://register.fca.org.uk/s/) |
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
## Swift network
Swift’s ISO 9362 BIC directory
- **BIC:** MNVTGB22XXX head office
- **Connection to Swift:** Reverse billing
- **Swift GPI:** Not on the member list
- **Payment schemes and systems:** No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- **Branch codes:** None: head-office BIC only
- **BIC first registered:** 2021-08-14
- **Last updated:** 2021-08-14
## Overview
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/monavate-ltd-mnvtgb22#overview-sources)
Customers
Not published
Employees
Not published
Ownership
Group subsidiary
Monavate Holdings Limited
Firm type
Banking as a service
Trades as Monavate
- **Standing:** Exodus Movement, Inc. announced on 1 May 2026 that it had acquired Monavate Holdings Limited, the firm's parent. It bought the shares from UK receivers appointed after W3C Corp defaulted on a secured loan.
- **Ownership:** Monavate Holdings Limited (Companies House 12749770) holds 75% or more of the firm's shares and voting rights, and Exodus Movement, Inc. has owned Monavate Holdings Limited since May 2026.
- **Direct parent:** Monavate Holdings Limited, United Kingdom
- **Ultimate owner:** Exodus Movement, Inc., United States
- **Head office:** The Officers' Mess Business Centre, Royston Road, CB22 4QH Duxford, Cambridge, United Kingdom
- **Company register:** Companies House 12472532
- **Incorporated:** 19 Feb 2020
- **Founder:** Scott Lucas
### Online
- **Websites & references:** [monavate.com ↗](https://www.monavate.com/)
- **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/monavate/)
Sources · 13 pages consulted
1. [find-and-update.company-information.service.gov.uk/company/12472532](https://find-and-update.company-information.service.gov.uk/company/12472532)
2. [find-and-update.company-information.service.gov.uk/company/12472532/persons-with-significant-control](https://find-and-update.company-information.service.gov.uk/company/12472532/persons-with-significant-control)
3. [find-and-update.company-information.service.gov.uk/company/12472532/officers](https://find-and-update.company-information.service.gov.uk/company/12472532/officers)
4. [monavate.com/legal](https://www.monavate.com/legal)
5. [monavate.com/about](https://www.monavate.com/about)
6. [monavate.com/newsroom](https://www.monavate.com/newsroom)
7. [monavate.com/post/monavate-and-baanx-combine-to-form-w3c-corp-a-new-global-payments-infrastructure-gro](https://www.monavate.com/post/monavate-and-baanx-combine-to-form-w3c-corp-a-new-global-payments-infrastructure-group)
8. [monavate.com/post/uab-monavate-statement](https://www.monavate.com/post/uab-monavate-statement)
9. [lb.lt/en/news/uab-monavate-must-inform-its-customers](https://www.lb.lt/en/news/uab-monavate-must-inform-its-customers)
10. [exodus.com/investors/news-events/press-releases/detail/108/exodus-movement-acquires-outstanding-shar](https://www.exodus.com/investors/news-events/press-releases/detail/108/exodus-movement-acquires-outstanding-shares-of-monavate-holdings-limited-and-baanx-com-ltd)
11. [exodus.com/investors/news-events/press-releases/detail/106/exodus-movement-appoints-receiver-in-unit](https://www.exodus.com/investors/news-events/press-releases/detail/106/exodus-movement-appoints-receiver-in-united-kingdom-to-take-control-of-monavate-and-baanx)
12. [nasdaq.com/press-release/lithic-and-monavate-partner-power-card-programs-across-traditional-and-chai](https://www.nasdaq.com/press-release/lithic-and-monavate-partner-power-card-programs-across-traditional-and-chain-finance)
13. [krak.app/legal/card-terms](https://krak.app/legal/card-terms)
## Authorisation
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/monavate-ltd-mnvtgb22#overview-sources)
- **Operates under:** Its own licences
The FCA authorises the firm as an electronic money institution (FRN 901097) to issue e-money and provide payment services. The firm is itself the card issuer for its clients' programmes, and clients often act as its programme managers.
| Authority | Licence or registration | Number | Held | Status | Source |
| --- | --- | --- | --- | --- | --- |
| Financial Conduct Authority United Kingdom | Authorised Electronic Money Institution | 901097 | In its own name | Active | [register.fca.org.uk ↗](https://register.fca.org.uk/s/firm?id=0014G00002UyCbDQAV) |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
## Partners and safeguarding
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/monavate-ltd-mnvtgb22#overview-sources)
- **Safeguarding:** Segregated safeguarding accountsThe firm states that it keeps customer funds separate from its own money under the Electronic Money Regulations 2011, in designated safeguarding accounts with authorised credit institutions. [monavate.com ↗](https://www.monavate.com/legal)
- **Payment schemes and card networks:** Mastercard Direct [monavate.com ↗](https://www.monavate.com/about) Visa Direct [monavate.com ↗](https://www.monavate.com/about) Discover Direct [monavate.com ↗](https://www.monavate.com/about)
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
## Products and markets
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/monavate-ltd-mnvtgb22#overview-sources)
- Card-issuing platform
- Prepaid cards
- Debit cards
- Banking as a service
- E-money wallet
It issues cards and provides BIN sponsorship, processing and programme management for fintech, Web3, travel, insurance, media-buying and fleet card programmes.
The firm issues cards in the UK under its FCA authorisation, and the group says it is live in more than 50 countries through UAB Monavate and other entities.
- **Sells to:** Enterprises · Platforms and marketplaces · Financial institutions
- **Serves customers in:** United Kingdom
## Leadership
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/monavate-ltd-mnvtgb22#overview-sources)
- **Chief executive:** Michael Rolph Chief Executive Officer Confirmed 29 Sep 2026 · [monavate.com ↗](https://www.monavate.com/about)
- **Chief financial officer:** Lee Johnstone Chief Financial Officer Confirmed 29 Sep 2026 · [monavate.com ↗](https://www.monavate.com/about)
- **Founder:**  Scott Lucas Co-Founder & President Confirmed 29 Sep 2026 · [monavate.com ↗](https://www.monavate.com/about)
- **Executive:**  Elizabeth Agricole-Barnes Chief Operating Officer Confirmed 29 Sep 2026 · [monavate.com ↗](https://www.monavate.com/about)
- **Executive:**  David Nyamatore General Counsel Confirmed 29 Sep 2026 · [monavate.com ↗](https://www.monavate.com/about)
- **Executive:**  Mat Peck Chief Technology Officer Confirmed 29 Sep 2026 · [monavate.com ↗](https://www.monavate.com/about)
## Recent events 1 enforcement or investigation item
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/monavate-ltd-mnvtgb22#overview-sources)
1. May 2026
Merger / acquisition
Exodus Movement, Inc. acquired the firm's parent, Monavate Holdings Limited, from UK receivers for USD 76.3 million.
[exodus.com ↗](https://www.exodus.com/investors/news-events/press-releases/detail/108/exodus-movement-acquires-outstanding-shares-of-monavate-holdings-limited-and-baanx-com-ltd)
2. Apr 2026
Other
Exodus appointed UK receivers over the shares of Monavate Holdings, Monavate Ltd and Baanx after W3C Corp defaulted on a USD 70 million loan.
[exodus.com ↗](https://www.exodus.com/investors/news-events/press-releases/detail/106/exodus-movement-appoints-receiver-in-united-kingdom-to-take-control-of-monavate-and-baanx)
3. Dec 2025
Enforcement
The Bank of Lithuania ordered UAB Monavate, a Lithuanian group company, to stop providing services through six named distributors.
[lb.lt ↗](https://www.lb.lt/en/news/uab-monavate-must-inform-its-customers)
4. Nov 2025
Merger / acquisition
Monavate combined with Baanx under W3C Corp, a new holding company for Monavate Holdings Ltd.
[monavate.com ↗](https://www.monavate.com/post/monavate-and-baanx-combine-to-form-w3c-corp-a-new-global-payments-infrastructure-group)
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
## Identifiers
Head-office record
- **BIC:** MNVTGB22XXX
- **How the BIC breaks down:** 1. MNVT Bank 2. GB Country · United Kingdom 3. 22 Location · reverse billing 4. XXX Branch · head office
- **Branch description:** Not recorded in the directory
- **LEI:** 9845004DSE5B857A7245
- **LEI record:** [View on GLEIF ↗](https://search.gleif.org/#/record/9845004DSE5B857A7245)
- **Licence no. · FCA-EMI:** 901097
- **How the LEI was matched:** BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file. Register entry: Matched by Elucidate on the UK company number the register gives.
- **Register-entry ID:** ff4f47be92b5
- **Companies House no.:** [12472532 ↗](https://find-and-update.company-information.service.gov.uk/company/12472532)
## Profile
- **Type:** Payments & e-money
- **Regulation:** Prudential licence
- **Register licences:** [1 entry on 1 register](https://elucidate.co/directory/monavate-ltd-mnvtgb22#licences)
- **Activities:** - Payment services - E-money / stored value
- **Licensed in:** [United Kingdom](https://elucidate.co/directory/country/gb)
- **Website (register):** [www.monavate.com ↗](https://www.monavate.com/)
- **Country · region:** United Kingdom · Europe & Central Asia
- **Trading venues (MIC):** No MIC registered under this LEI list of 2026-09-17
- **OFAC sanctions:** No listing cites this BIC
- **EU sanctions:** No listing matched this BIC or its LEI
- **Country sanctions:** No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
## Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
## Persons with significant control
Companies House · company [12472532 ↗](https://find-and-update.company-information.service.gov.uk/company/12472532) · as at 9 October 2026
Companies House lists 1 person with significant control for Monavate Ltd: 1 company.
| Name | Type | Nature of control | Notified |
| --- | --- | --- | --- |
| [Monavate Holdings Limited ↗](https://find-and-update.company-information.service.gov.uk/company/12749770) | Company · UK | 75–100% of shares · 75–100% of votes | 29 July 2020 |
| Exodus Movement, Inc. | Company · Texas · through Monavate Holdings Limited | 75–100% of shares · 75–100% of votes · Can appoint or remove directors | 30 April 2026 |
Companies report persons with significant control to Companies House. Elucidate has not verified them.
A person with significant control holds more than 25% of the shares or votes, can appoint or remove the board, or has significant influence or control. Dates of birth and addresses are not shown.
Matched on the Companies House number that the FCA register gives for this firm.
[See the register at Companies House ↗](https://find-and-update.company-information.service.gov.uk/company/12472532/persons-with-significant-control)
## Addresses
- **Registered address:** THE OFFICERS MESS BUSINESS CENTRE THE ANTE ROOM ROYSTON ROAD DUXFORD CAMBRIDGE CB22 4QH UNITED KINGDOM
- **Operational address:** THE OFFICERS MESS BUSINESS CENTRE THE ANTE ROOM ROYSTON ROAD DUXFORD CAMBRIDGE CAMBRIDGE CB22 4QH UNITED KINGDOM
## ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- **Identified by:** BIC, with its LEI
- **Roles in CBPR+:** Any agent, including the instructing and instructed agents
### CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
```xml
MNVTGB22XXX
9845004DSE5B857A7245
```
### Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
```xml
MNVTGB22XXX
9845004DSE5B857A7245
MONAVATE LTD
CAMBRIDGE
GB
THE OFFICERS MESS BUSINESS CENTRE THE ANTE ROOM ROYSTON ROAD DUXFORD
CAMBRIDGE CB22 4QH
```
The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
## Related institutions
### Other payments & e-money institutions in the United Kingdom
- [Stonex Financial LTD BIC IGLUGB2L Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 446717 (FCA-PSD) · also on FINTRAC-MSB · LEI 549300AWF3TOHRYL7754](https://elucidate.co/directory/stonex-financial-ltd-iglugb2l)
- [Dex International Limited · trading as DEXREMIT No BIC Payments & e-money Crypto Money service business Prudential licence United Kingdom · Licensed by FCA · 503929 (FCA-PSD) · also on HMRC-MLR, FINTRAC-MSB · LEI 9845003995D06S994R04](https://elucidate.co/directory/dex-international-limited-ff2b0c01c725)
- [Euronet Payment Services Ltd · trading as Ria Money Transfer, Ria No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 504630 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/euronet-payment-services-ltd-6f4dec33a392)
- [Instinet Europe Limited BIC ISNTGB2L Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 140822 (FCA-PSD) · LEI 213800MXAKR2LA1VBM44](https://elucidate.co/directory/instinet-europe-limited-isntgb2l)
- [Isx Financial UK LTD BIC ISFIGB22 Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 901034 (FCA-EMI) · LEI 2138007BDV9IRS8AYD07](https://elucidate.co/directory/isx-financial-uk-ltd-isfigb22)
- [Western Union Payment Services GB Limited · trading as Manning House, WU No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 816890 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/western-union-payment-services-gb-limited-0741de977896)
- [A to Z 4U Ltd · trading as SAAK REMIT, Saakpay No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 570837 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/a-to-z-4u-ltd-25c2ca0fa3b5)
- [Allied Wallet Limited No BIC Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 900124 (FCA-EMI) · also on FCA-PSD · LEI 213800HO66BDXP716G24](https://elucidate.co/directory/allied-wallet-limited-8983cc2e32eb)
[See all →](https://elucidate.co/directory/search?type=payments&cc=GB)
Claim this profile
## Work at Monavate LTD?
Claim this page to have it marked as verified by the bank, and to send us corrections. We verify every claim before anything changes on the page.
1. 01 **Submit** Tell us who you are, using your work email.
2. 02 **We verify** We check the email domain and confirm your role with the bank. This usually takes up to five business days.
3. 03 **Profile claimed** The page is marked as claimed and verified. You can send us corrections at any time.
Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
[Read the methodology →](https://elucidate.co/directory/methodology)
Credits for this page
- **FCA Financial Services Register - E-Money Institutions**—Financial Conduct Authority (FCA) · [register ↗](https://register.fca.org.uk/s/) as at 25 September 2026
- **Persons with significant control**—Companies House · [source ↗](https://download.companieshouse.gov.uk/en_pscdata.html) as at 9 October 2026
- **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
- **Images**—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: [monavate.com](https://www.monavate.com/) (official website) · [original](https://cdn.prod.website-files.com/67415de0697a73ca5cd84d97/674167097a9afd8a5f36cce2_Monavate_Wordmark_Black.svg); Scott Lucas: [monavate.com](https://www.monavate.com/about) (official website) · [original](https://cdn.prod.website-files.com/67415de0697a73ca5cd84e0d/68875c3a8a19deedc64f5b1e_Monavate_LinkedIn-Profile_Scott-Lucas%20\(1\).png); Elizabeth Agricole-Barnes: [monavate.com](https://www.monavate.com/about) (official website) · [original](https://cdn.prod.website-files.com/67415de0697a73ca5cd84e0d/6741f5c7bb7cca6f0c68d242_Liz.png); David Nyamatore: [monavate.com](https://www.monavate.com/about) (official website) · [original](https://cdn.prod.website-files.com/67415de0697a73ca5cd84e0d/6741f6d6a016ee88dc8094fc_David.png); Mat Peck: [monavate.com](https://www.monavate.com/about) (official website) · [original](https://cdn.prod.website-files.com/67415de0697a73ca5cd84e0d/682c72c48a25d142bd9976f2_Monavate_Web_MatPeck_2025%20\(1\)%20\(1\).png).
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Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.