BVNK Launches USD Payments With Swift for Stablecoin Access
BVNK, the stablecoins provider, has launched Swift payments on its platform. This will enable businesses to access BVNK’s stablecoin services so businesses can easily move between US dollars, Euros and stablecoins including USDT, USDC and PYUSD.
With the new capabilities Swift provides, BVNK customers can tap into established, efficient global settlements and complete business with international partners. Its partnership with Swift follows the integration of PayPal USD on its platform to boost stablecoin adoption.
Swift: Enabling greater efficiency for BVNK customers
For example, BVNK’s payment service provider (PSP) customers and fintechs facing increased demand to move money faster globally can send US dollars or Euros to the BVNK platform, convert it to stablecoins and make near-instant onward payouts to partners and clients.
Elsewhere, FX trading platforms that partner with BVNK can, with their global customer bases, receive funds in stablecoins from local payment providers and convert them to USD automatically before sending them to their own bank accounts.
All of this can now be completed within the BVNK platform. Businesses can also accept stablecoins in international markets via BVNK’s crypto payments gateway, convert funds automatically to USD or Euros and send them to their bank accounts via Swift.
Speaking on this latest partnership, BVNK Director of Product and Core Banking, Maxim Ivanov, says: “We know that modern businesses want financial flexibility so they can work in the most capital-efficient way.
“They want to move funds faster around the world, for less cost and risk. By bringing together bank and blockchain payment rails and currencies in a single platform, we enable this for our customers.
“Adding USD and EUR via Swift means that our customers can really take full advantage of stablecoins to speed up their money movement, wherever they are based – and they can easily get back into fiat currencies if and where they need to.”
With BVNK’s platform, businesses can access 14 of the most popular digital currencies, all leading stablecoins and 15 fiat currencies.
The head of payments at a leading FX trading platform, adds: “As a global business, we work with numerous PSPs across various regions and currencies. With the increasing demand for fast and convenient transactions, settlement from our PSPs in stablecoins has become essential.
“Thankfully, BVNK stepped in, providing us with a seamless solution to receive stablecoins, convert them to USD—our primary currency—and transfer them directly to our bank accounts via Swift.
“BVNK offers the perfect pathway from our PSPs to our banks, saving us valuable time and money. Now, onboarding PSPs is worry-free, as we always have a reliable way to settle with BVNK.”
BVNK’s partnership with Swift represents another important milestone on its impressive growth journey.
The company went live with its UK EMI licence in 2023, before going live with its new European EMI licence in early 2024.
BVNK also acquired System Pay Services last year, alongside efforts to scale up its workforce after generating US$40m in a Tiger Global-led Series A funding round.
As for Swift, its partnership with BVNK comes as part of its efforts to ramp up global support for digital currencies. In March, it announced the planned launch of a new CBDC platform within the next two years, connecting the worldwide rise of CBDC platforms.
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