Following BVNK’s USD 50 million Series B funding, the capital from Visa Ventures will enable the company to further promote the adoption of stablecoin payments. Commenting on the news, representatives from Visa stated that, as stablecoins become part of global payment flows, their company plans to invest in new technologies and builders like BVNK to drive growth and better meet the needs, demands, and preferences of clients and partners.
With the previously obtained funds, BVNK, a provider of stablecoin payment infrastructure, intended to expand its operations in the US by establishing additional offices. Additionally, at that time, the company had been developing local banking infrastructure and securing operational licences to serve US businesses. The round was led by Haun Ventures, with contributions from Coinbase Ventures, Scribble Ventures, DRW VC, and existing investors Avenir and Tiger Global.
According to Visa Onchain Analytics, stablecoin adoption is currently on a growth path, with 2024 seeing USD 27 trillion in total stablecoin transaction volume globally across 1.25 billion transactions. BVNK processes approximately USD 12 billion annually for a variety of companies, including Ferrari and Rapyd, focusing on supporting them in sending, receiving, converting, and storing stablecoins and fiat.
BVNK’s officials underlined their company’s commitment to developing the infrastructure to make stablecoin payments accessible to businesses, allowing them to operate according to the current market speed. By having Visa as an investor, BVNK intends to further advance its mission to upgrade the global payment system.
Just two months before this announcement, BVNK rolled out an embedded wallet that combined fiat and stablecoins globally. Through this, the company sought to accelerate payments by bringing together banks and blockchains. The embedded wallet was designed to provide scaled payment flexibility for businesses and customers, merging fiat and stablecoins in a single platform. Users gained access to blockchains and payment schemes like Swift, SEPA, and ACH, enabling them to move money more efficiently.
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