Quick take:
The London-based company claims to process $12 billion in stablecoin transactions annually.
BVNK, which is now expanding into the US did not disclose the size of investment from Visa.
Some of the stablecoin company’s clients include the likes of Ferrari and Rapyd, which leverage its technology to send, receive, convert, and store stablecoins and fiat.
UK-based stablecoins infrastructure provider BVNK has announced a strategic investment from Visa.
The announcement comes at a time when interest in stablecoins is rising amid growing prospects for a crypto-friendly regulatory environment in the U.S. The London-based company, which is now expanding to the U.S. did not disclose the size of the investment.
The investment also signifies a shift in global payments as more traditional financial service providers continue to leverage blockchain technology as a means of making payments faster and more cost-effective.
“Visa’s deep expertise in building global payment networks, combined with our stablecoin infrastructure, creates powerful possibilities for redefining how businesses operate in today’s digital economy,” BVNK co-founder and CEO Jesse Hemson-Struthers wrote in a blog post on Tuesday.
BVNK estimates that there was $27 trillion worth of stablecoin transaction volume globally in 2024. The company claims to process $12 billion in stablecoin transactions annually.
BVNK offers both fiat and stablecoin payments infrastructure for companies, helping them to send, receive, convert, and store both types of assets.
Commenting on the announcement, Rubail Birwadker, head of growth products and partnerships, Visa, said: “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.”
Jesse Hemson Struthers, co-founder & CEO of BVNK, commented: “We’re experiencing a once in a generation shift to a new foundational payment technology, powered by stablecoins. At BVNK, we’re building the infrastructure to make these new rails accessible to businesses, empowering them to operate at the speed of today’s economy.”
In December, the company announced a $50 million Series B round led by Haun Ventures, with participation from Coinbase Ventures, Scribble Ventures, DRW Venture Capital, Avenir and Tiger Global.
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The post Visa Advances Stablecoins Strategy with Investment in BVNK appeared first on NFTgators .