Visa invests in stablecoin startup BVNK
Visa Ventures has made a strategic investment in stablecoin infrastructure platform BVNK.
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The investment - terms of which were not disclosed - comes just months after a $50 million Series B for London-based BVNK.
Stablecoin adoption is exploding, with $27 trillion in total transaction volume globally across 1.25 billion transactions in 2024, according to Visa analysis.
As a licensed electronic money institution in the UK and Europe, BVNK provides named IBANs for EUR and GBP, and access to UK and Europe's payment schemes including Sepa, Sepa Instant and Faster Payments, so merchants can send and receive payments to suppliers and partners.
The company processes more than $12 billion annually for companies like Ferrari and Rapyd, helping them send, receive, convert, and store stablecoins and fiat.
This year, it is making a push into the US, opening offices in San Francisco and New York with a team led by former BlockFi executive Amit Cheela and ex-Cross River exec Keith Vander Leest.
Rubail Birwadker, head, growth products and partnerships, Visa, says: 'Stablecoins are fast becoming a part of global payment flows, and Visa invests in new technologies and builders like BVNK, staying at the forefront of what's next in commerce to better serve our clients and partners.'
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