According to BlockBeats news on May 7, Coindesk reported that Visa (V), a global payment service provider, has made a strategic investment in the startup BVNK, which is building stablecoin-based payment infrastructure. This move reflects the trend of traditional financial companies entering the blockchain-driven currency flow. A BVNK spokesperson confirmed via email that the transaction has been completed but declined to disclose the investment scale.
The software developed by BVNK allows businesses to send and receive stablecoins in the global market. The London-based company claims its annual stablecoin transaction volume has reached $12 billion and has recently entered the U.S. market, with offices in New York and San Francisco. The company has applied for licenses in all U.S. states and has received approvals in several states.