Stablecoin payment infrastructure firm BVNK has raised $50 million in a Series B funding round, propelling its expansion into the United States.
Key Investors
The funding was led by Haun Ventures, with participation from major players including:
- Coinbase Ventures
- Scribble Ventures
- DRW VC
- Existing backers Avenir and Tiger Global
Building a Global Payment Ecosystem
As a licensed electronic money institution in the UK and Europe, BVNK offers businesses a comprehensive suite of payment services, including:
- Named IBANs for EUR and GBP.
- Access to European payment schemes like Sepa, Sepa Instant, and Faster Payments.
These solutions enable seamless payment flows for merchants working with suppliers and partners.
Since its $40 million Series A in 2022, BVNK has processed over $10 billion in annualized payment volumes, achieving a 200% year-on-year growth rate. Clients such as Deel, Rapyd, and Trust Payments leverage BVNK to access stablecoins like those offered by PayPal, Circle, and First Digital, facilitating instant cross-border payments.
US Expansion Strategy
To support its foray into the US market, BVNK is:
- Opening an office in San Francisco.
- Establishing a presence in New York City.
- Building out a local team and infrastructure while acquiring operational licenses.
The move coincides with the burgeoning role of stablecoins in payments. In 2024, stablecoins facilitated $24 trillion in global transactions, with $5.2 trillion dedicated to payments—three times PayPal’s transaction volume. Industry developments, such as the launch of Ripple’s stablecoin RLUSD and increased adoption by banks, point to even greater growth.
CEO’s Vision
Jesse Hemson-Struthers, CEO of BVNK, shared the company’s ambition:
“Stablecoins are redefining how money moves across the world—faster, more cost-efficient, and with fewer barriers. At BVNK, we’re building the infrastructure to make these new rails accessible to businesses everywhere, empowering them to operate at the speed of today’s economy. This funding marks the next step in our mission to transform payments for the modern world.”
Impact on Payments Landscape
By offering businesses the tools to adopt stablecoins seamlessly, BVNK is positioning itself as a key player in modernizing payment rails, competing with traditional networks like SWIFT and credit card systems.