In a bid to further accelerate payments by bringing together banks and blockchains, BVNK has launched an embedded wallet, unifying fiat and stablecoins globally. The company’s embedded wallet was developed to offer scaled payment flexibility for businesses and customers, bringing together fiat and stablecoins in a single platform. Additionally, users gain access to blockchains and payment schemes such as Swift, SEPA, and ACH, allowing them to move money more efficiently.
The launch comes just a month after BVNK joined forces with First Digital, the organisation behind First Digital USD (FDUSD), to scale the adoption of stablecoins worldwide. The partnership positioned BVNK as one of the first business payment platforms to integrate FDUSD, allowing businesses to explore stablecoin use cases and augment their payment and trading capabilities. Additionally, the move intended to capitalise on the increasing demand for efficient, cost-effective digital payment solutions while also supporting the adoption of FDUSD within the crypto ecosystem.
Generally, embedded wallets are designed to support fintech, crypto, and payment companies to accelerate money movement for their customers. When it comes to PSPs and fintech firms, they can leverage these wallets to allow customers to benefit from payouts to anywhere near instantly. Additionally, they can hold USD, EUR, and GBP and pay out stablecoins. On the other hand, payroll and tech platforms can accelerate payments to international workers, hosts, creators, and sellers, while crypto fintechs and neobanks can enable customers to move from USD, EUR, and GBP to stablecoins in their app or platform.
Furthermore, BVNK’s API is developed as modular, allowing clients to integrate it based on their needs, demands, and preferences. In addition, the company’s technical team offers guidance to assist a bespoke build, while its compliance team can advise on a suitable compliance setup.
BVNK’s growth strategy was also supported by a Series B funding round in December 2024, when the company secured USD 50 million. Led by Haun Ventures, the round also saw participation from Coinbase Ventures, Scribble Ventures, DRW VC, and existing investors Avenir and Tiger Global. At that time, the company planned to leverage the capital to expand its operations in the US by establishing offices in San Francisco and New York City, as well as developing local banking infrastructure and securing operational licences to serve US businesses. BVNK intended to also utilise the funding to assist it in improving its infrastructure for businesses globally.
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