Visa has strategically invested in BVNK, a London startup dedicated to stablecoin payments. This move demonstrates Visa’s ongoing commitment to developing digital payment technologies.
BVNK constructs infrastructure for companies to send and receive funds using stablecoins. They are faster and less expensive than conventional payment methods. BVNK has constructed its platform for all kinds of companies to enable quicker transfer of money internationally.
The funding is provided by Visa Ventures. It is following BVNK’s Series B funding round of $50 million in December. It featured investors such as Haun Ventures, Coinbase Ventures, and Tiger Global. This additional support provides BVNK with greater strength to expand.
Stablecoins become key players in global finance
Stablecoins have emerged as central to international finance. Visa’s figures report that over $27 trillion in stablecoin volume has been transacted across 1.25 billion transactions. BVNK already processes $12 billion of annualized volume.
Visa’s action is more than monetary assistance. It is support for stablecoins as a genuine payment instrument. With Visa’s worldwide network and BVNK’s technology, the two entities intend to mainstream stablecoin adoption.
BVNK has also ventured into the US. It has opened offices in San Francisco and New York. It has recruited seasoned professionals from companies such as BlockFi and Cross River to spearhead its US growth.
The BVNK team views stablecoins as something greater than another payment method. They envision it as a revolution in the manner in which money flows. Rather than using aged banking rails, companies are now able to utilize blockchain rails with faster settlements and reduced fees.
Visa and BVNK pioneering the future of payments
Visa has been at the forefront of payments for years. It is continuing to move with the digital times by investing in BVNK. Visa and BVNK’s collaboration brings Visa’s heritage and BVNK’s innovation together.
BVNK was formed with the vision to enable companies to function at the velocity of the economy today. It’s one step closer to its mission with the partnership with Visa.
Stablecoins are no longer experimental. They increasingly serve as the underpinning for global finance. Visa’s investment is part of what confirms the trend.
It is a big milestone for payments.
It demonstrates how startups and legacy companies can collaborate to create the future of payments. BVNK and Visa are poised to drive the shift as the demand increases for instant, borderless transactions.
