“Stablecoins are an infrastructure upgrade for payments, ready to replace legacy systems,” said BVNK CEO Jesse Hemson-Struthers.
By Bena Ilyas
Edited by Marco T. Lanz
Updated
3 mins read
Stablecoin infrastructure platform BVNK has raised $50 million in a Series B funding round, pushing its valuation to approximately $750 million. The London-based firm announced the new funding on Tuesday, with Haun Ventures leading the investment and participation from Coinbase Ventures and Tiger Global.
The company, founded in late 2021, has steadily expanded over the years. Last year, BVNK entered the US market, opening its first office in San Francisco and beginning work on operational licenses. So far, BVNK has gained approvals in states like Florida, Alabama, Arizona, Delaware, Michigan, and New Hampshire.
BVNK’s mission revolves around simplifying payments using stablecoins, a type of digital currency designed to maintain a stable value. The platform enables businesses to streamline global transactions, make instant payouts, and eliminate exchange-rate risks that can disrupt cross-border payments.
The company is already proving its impact. Businesses use BVNK to deliver instant payroll, settle with merchants, and streamline marketplace payouts. Deel, for instance, uses the platform to pay contractors worldwide using stablecoins such as USDC, allowing workers to avoid long delays and unfavorable currency conversions.
BVNK Co-Founder and CEO Jesse Hemson-Struthers highlights the transformative potential of stablecoins in the financial sector. He emphasized that stablecoins eliminate outdated bottlenecks in traditional financial systems, offering speed, reliability, and cost-efficiency.
“Stablecoins are an infrastructure upgrade for payments, ready to replace legacy systems,” said Jesse Hemson-Struthers.
Global merchants are also benefiting. Companies like Visa and Rapyd rely on stablecoins to settle payments instantly, avoiding cross-border banking delays and improving business liquidity. This technology is helping marketplaces such as Airbnb and Amazon enable faster, more secure payouts to their sellers.
BVNK’s growth comes amid surging adoption of stablecoins globally. In 2024, stablecoin payments hit $5.2 trillion, tripling the volume processed by PayPal. Notably, 28.5 million unique users transferred over $600 million in on-chain transactions last month alone.
Major financial players are taking notice. Stripe’s $1 billion stablecoin acquisition and Visa’s new tokenization platform signal how quickly stablecoins are integrating into mainstream financial services. BVNK sees this momentum as an opportunity to transform global payments for businesses.
With the latest round of funding, BVNK is positioning itself for rapid growth in the US, the world’s largest payments market. Over the past year, the company has built a local team, banking infrastructure, and regulatory groundwork. Now, BVNK is opening a new office in San Francisco while establishing a presence in New York City.
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With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
