BVNK Raises US$50m to Expand Stablecoin Payments in US

Stablecoin payments infrastructure provider BVNK has secured US$50m in Series B funding to expand its US operations, marking increased institutional interest in digital currency payment solutions.

The London-based company, which processes stablecoin transactions for businesses, will use the funding to establish offices in San Francisco and New York. 

The round was led by Haun Ventures, with participation from Coinbase Ventures, Scribble Ventures, DRW VC and existing investors Avenir and Tiger Global.

Growth and partnerships

BVNK has processed more than $10bn in annualised payment volumes since its Series A round in 2022, representing 200% year-on-year growth. 

The company provides infrastructure that enables businesses to send, receive and store stablecoins – digital currencies designed to maintain a stable value by being pegged to traditional currencies like the US dollar.

The firm has established partnerships with PayPal, Circle (the issuer of USDC stablecoin), and First Digital to strengthen access to major stablecoins. Its clients include global payroll provider Deel, payments company Rapyd, and merchant services firm Trust Payments.

Earlier this year, BVNK launched Layer1, a software solution for enterprises to manage stablecoin payments internally. The platform aims to serve businesses seeking alternatives to traditional payment systems like Swift for cross-border transactions.

US expansion and market growth

The stablecoin market has seen significant growth, with US$24tn in transactions processed globally in 2024, of which US$5.2tn was specifically for payments – three times the volume processed by PayPal. 

Major financial services firms have increased their involvement in the sector, including Stripe's US$1bn stablecoin acquisition and Visa's development of a tokenisation platform.

BVNK's expansion into the US market comes as regulatory frameworks for stablecoins continue to develop. 

The company has invested in building local banking infrastructure and obtaining operational licenses to serve US businesses.

Jesse Hemson-Struthers, CEO and Co-founder of BVNK, says: “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.”

Coinbase Ventures, the investment arm of cryptocurrency exchange Coinbase, views the investment as strategic for expanding stablecoin adoption. 

Shan Aggarwal, Vice President of Corporate and Business Development, Ventures at Coinbase, says: “Today's consumers want payments that happen as fast as the internet, across borders, and without compromising security. Stablecoins offer that solution and are helping update the financial system.”

Diogo Mónica, General Partner at Haun Ventures, says: “Stablecoins represent the most significant infrastructure upgrade to global payments in decades. 

“BVNK has demonstrated its ability to unlock real-world use cases at scale, and we're thrilled to support their journey to make instant, borderless payments a reality for businesses everywhere.” 

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