Visa Takes Strategic Stake in Stablecoin Platform BVNK
Visa has made a strategic investment in BVNK, a stablecoin infrastructure provider that processes over US$12bn in transactions annually. The move follows BVNK's US$50m Series B funding round completed in December 2024.
The investment represents growing institutional interest in stablecoin technology – digital assets designed to maintain price stability by being pegged to a reserve asset such as the US dollar.
“We're proud to support BVNK as they help accelerate global adoption of stablecoin payments,” says Rubail Birwadker, Head of Growth Products and Partnerships at Visa.
“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.”
Transaction Volume Data
The stablecoin market has seen substantial growth, with transaction volume reaching US$27tn globally across 1.25 billion transactions in 2024, according to data from Visa Onchain Analytics.
BVNK provides infrastructure that allows companies to send, receive, convert and store both stablecoins and traditional fiat currencies through a unified platform.
The company counts Ferrari, the Italian luxury sports car manufacturer, and Rapyd, the financial technology service provider, among its client base.
The investment from Visa comes six months after BVNK secured its Series B funding round led by Haun Ventures, with participation from Coinbase Ventures, the investment arm of the cryptocurrency exchange Coinbase, as well as Scribble Ventures, DRW Venture Capital, Avenir and Tiger Global.
US Market Expansion
BVNK has established a presence in the United States market this year, opening offices in San Francisco and New York. The company has appointed former BlockFi executive Amit Cheela and former Cross River executive Keith Vander Leest to lead its American operations.
For Visa, the investment demonstrates continued interest in emerging payment technologies and infrastructure providers in the digital currency space.
The payments network has chosen to back BVNK as stablecoins become increasingly integrated into global payment flows.
The transaction represents a milestone for BVNK as it continues to build infrastructure for businesses to access stablecoin payment rails.
The company focuses on making these systems accessible to organisations seeking to operate with greater speed in digital transactions.
Jesse Hemson-Struthers, Co-Founder and Chief Executive Officer of BVNK, views the investment as an important development for the company's growth trajectory.
“We're experiencing a once in a generation shift to a new foundational payment technology, powered by stablecoins,” says Jesse.
“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.
“We're thrilled to welcome Visa – the original payments innovator – as an investor, and a partner in our mission to upgrade the global payment system.”
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