United Kingdom · Payments & e-money
Xace Limited
Xace Limited is a private limited company registered in England and Wales. The FCA authorises it as an authorised payment institution (FRN 948213). Its payment accounts and Visa virtual cards are provided by Modulr FS Limited, for which it is a registered EMD agent, and by Modulr Finance B.V. It offers multi-currency business accounts, IBANs, FX and cross-border payments, mainly to iGaming, esports and related businesses.
Licences and registrations
Held by Xace Limited (LEI 984500F560E4T2D5B873). 3 entries on 2 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| FCA Financial Services Register - Payment Institutions & RAISPsFCALinked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised Payment InstitutionPayment Institution | 948213 | United Kingdom | Active | 2022-03-16 | — |
|
Search the register ↗ |
| FCA Financial Services Register - Payment Institutions & RAISPsFCALinked by LEI. Matched by Elucidate on the UK company number the register gives. | Small Payment InstitutionPayment Institution | 911400 | United Kingdom | Cancelled - Small PI | — | Ended 2022-03-16 |
|
Search the register ↗ |
| Money Services Business RegistryFINTRACLinked by LEI. Matched by Elucidate to GLEIF on name and country only. | Foreign MSB (FMSB)Crypto-Asset Service Provider | M22015684 | Canada | Ceased | 2022-09-26 | Ended 2026-07-29 |
|
Search the register ↗ |
Licences and registrations listed here were granted in Canada. This BIC is registered in the United Kingdom.
- 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
- ACEIGB22XXX head office
- Connection to Swift
- Reverse billingThe institution is connected to Swift. Messages sent to it are billed to the institution, not to the sender. The “2” in the eighth character of ACEIGB22 marks 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
- 2020-07-04
- Last updated
- 2021-03-18
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Ownership
Privately held
Firm type
E-money and accounts
Trades as Xace
- Standing
- The firm's Canadian registration with FINTRAC as a foreign money services business ceased on 29 July 2026. Its FCA registration as a small payment institution was cancelled on 16 March 2022, when it became an authorised payment institution.
- Ownership
- Two persons with significant control, David Hodkinson and Natalie Shoshan, each hold more than 25% but not more than 50% of the shares and voting rights.
- Major shareholders
- David Hodkinson
Natalie Shoshan - Head office
- 71-75 Shelton Street, Covent Garden, WC2H 9JQ London, United Kingdom
- Company register
- Companies House 11742963
- Incorporated
- 28 Dec 2018
- Founders
- David Hodkinson · Adam Grist
- Former name
- ZUMA SERVICES LTD
Online
- Websites & references
- xace.io ↗
xace.co.uk ↗ UK site, linked from the xace.io navigation
xace.ca ↗ Canadian site (resolves to xace.io/en-ca)
developer.xace.io ↗ developer documentation - Official social accounts
- LinkedIn ↗
- Apps
- App Store ↗ · Google Play ↗
Sources · 13 pages consulted
- find-and-update.company-information.service.gov.uk/company/11742963/officers
- find-and-update.company-information.service.gov.uk/company/11742963/persons-with-significant-control
- find-and-update.company-information.service.gov.uk/company/11742963/filing-history
- find-and-update.company-information.service.gov.uk/company/11742963/filing-history/MzQ4MzYxMTc4OWFkaXF6a2N4/document?format=pdf&download=0
- find-and-update.company-information.service.gov.uk/company/11742963
- xace.io/
- xace.io/about-us
- xace.io/policy
- xace.io/terms
- xace.io/services
- xace.io/news/press-release-xace-appoints-megan-easey-as-chief-executive-office
- xace.io/news/xace-expands-operations-into-cyprus-to-strengthen-eu-presence
- xace.ca
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Several models
- Licensed firm it operates under
- Modulr FS Limited, United Kingdom registered EMD agent; accounts, related payment services and cards are provided by Modulr FS Limited (and by Modulr Finance B.V. in the EU)
The FCA authorises Xace Limited as an authorised payment institution under the Payment Services Regulations 2017, and the firm says it provides some payment services under this licence. Its customer accounts and cards are provided by Modulr FS Limited, an FCA-authorised electronic money institution, for which Xace is a registered EMD agent. In the EU they are provided by Modulr Finance B.V., which the Dutch Central Bank authorises as an electronic money institution.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority United Kingdom | Authorised Payment Institution | 948213 | In its own name | Active | — |
| Financial Conduct Authority United Kingdom | EMD Agent of Modulr FS Limited (FRN 900573) | 902828 | As agent | Active | xace.io ↗ |
| Financial Conduct Authority United Kingdom | Small Payment Institution | 911400 | In its own name | Withdrawn or expired | — |
| Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) Canada | Foreign Money Services Business registration | M22015684 | In its own name | Withdrawn or expired | — |
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
- Safeguarding
- Segregated safeguarding accountsThe firm states that funds in accounts provided by Modulr are held in segregated accounts and safeguarded in full under the Electronic Money Regulations 2011 (UK) or the Dutch Financial Supervision Act (EU).
- Safeguarding bank · Card issuer · Partner
- Modulr FS Limited United Kingdom
- Safeguarding bank · Card issuer · Partner
- Modulr Finance B.V. Netherlands
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
It provides business payment accounts with IBANs and UK sort codes in EUR, GBP, USD, CAD and other currencies, plus FX, bulk payments and Visa virtual debit cards, mainly to iGaming, esports, affiliate and prediction-market businesses.
It serves UK customers through Modulr FS Limited and EU customers through Modulr Finance B.V., and it has offices in the UK, Malta and Cyprus.
- Sells to
- Small businesses · Enterprises
- Serves customers in 3 countries
- United Kingdom · Malta · Cyprus
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Megan Easey Chief Executive Officer
- Chair
- Colin Rutherford Chairman
- Chief executive
- David Hodkinson Founder | UK CEO; director
- Founder
- Adam Grist Co-founder / CPO
- Executive
- Natalie Shoshan Director
- Executive
- Mark Taffler Chief Commercial Officer
Recent events
Researched 29 Sep 2026 · Sources
-
Leadership
Xace appointed Megan Easey as Chief Executive Officer. Founder David Hodkinson became UK CEO.
xace.io ↗ -
Other
Xace announced that it had expanded its operations into Cyprus, with an office in Limassol.
xace.io ↗ -
Leadership
Victoria Louise Griffith resigned as a director of Xace Limited, having been appointed in March 2024.
find-and-update.company-information.service.gov.uk ↗ -
Other
Xace Limited repurchased 2,072 of its ordinary A shares for USD 4 million.
find-and-update.company-information.service.gov.uk ↗
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
- ACEIGB22XXX
- How the BIC breaks down
- ACEIBank
- GBCountry · United Kingdom
- 22Location · reverse billing
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 984500F560E4T2D5B873
- LEI record
- View on GLEIF ↗
- Licence no. · FCA-PSD
- 948213
- Licence no. · FCA-PSD
- 911400
- Licence no. · FINTRAC-MSB
- M22015684
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entries: Matched by Elucidate on the UK company number the register gives.Register entry: Matched by Elucidate to GLEIF on name and country only.
- Register-entry IDs
- 8f789046d84b · 2cc78bafa751
Profile
- Type
- Payments & e-money · Crypto · Money service businessPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 3 entries on 2 registers
- Activities
- Payment services
- Money remittance
- Currency exchange
- Crypto-assets
- Licensed in
- United Kingdom
- Website (register)
- www.xace.co.uk ↗
- 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.
Addresses
- Registered address
- 71-75 SHELTON STREET LONDON WC2H 9JQ UNITED KINGDOM
- Operational address
- 71-75 SHELTON STREET LONDON LONDON WC2H 9JQ 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
<FinInstnId>
<BICFI>ACEIGB22XXX</BICFI>
<LEI>984500F560E4T2D5B873</LEI>
</FinInstnId>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
<FinInstnId>
<BICFI>ACEIGB22XXX</BICFI>
<LEI>984500F560E4T2D5B873</LEI>
<Nm>XACE LIMITED</Nm>
<PstlAdr>
<TwnNm>LONDON</TwnNm>
<Ctry>GB</Ctry>
<AdrLine>71-75 SHELTON STREET LONDON WC2H 9JQ</AdrLine>
</PstlAdr>
</FinInstnId>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.
Claim this profile
Work at Xace Limited?
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.
- 01Submit Tell us who you are, using your work email.
- 02We verify We check the email domain and confirm your role with the bank. This usually takes up to five business days.
- 03Profile claimed The page is marked as claimed and verified. You can send us corrections at any time.
Claim received
Thank you. We will email your work address once the claim is verified. Until then, the page stays unclaimed.
The claim was not sent. Try again, or email contact@elucidate.co.
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 →Credits for this page
- FCA Financial Services Register - Payment Institutions & RAISPs—Financial Conduct Authority (FCA) · register ↗ as at 25 September 2026
- Money Services Business Registry—Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) · register ↗ as at 25 September 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: xace.io (official website) · original.
Assess the financial crime risk behind a BIC
A BIC identifies an institution; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks, built for correspondent banking and counterparty due diligence.
Book a demo