BVNK, a company specialising in stablecoin payment solutions, has raised $50 million in a Series B funding round aimed at advancing its mission to transform global payments. The investment was led by Haun Ventures, with participation from Coinbase Ventures, Scribble Ventures, DRW Venture Capital, and existing backers Avenir and Tiger Global. This funding marks a significant step forward for BVNK as it focuses on scaling its services and expanding into new markets.
Jesse Hemson Struthers, CEO of BVNK, emphasised the strategic importance of the partnership with Haun Ventures, founded by Katie Haun, a former General Partner at Andreessen Horowitz and a board member at Coinbase. The firm’s expertise and network are expected to play a critical role in helping BVNK achieve its goals of expanding stablecoin adoption globally.
Since its Series A funding round in 2022, BVNK has concentrated on developing infrastructure that enables businesses to send, receive, exchange, and store stablecoins and fiat funds. This has been accomplished with a focus on simplifying the complexities of blockchain technology and fostering partnerships with key players in the industry. The company has seen its payment volumes grow by 200% year-on-year, processing $10 billion in annualised transactions for clients including Deel, Rapyd, and Trust Payments. Recent innovations include the introduction of Layer1, a self-custody solution designed to support businesses at all stages of their stablecoin journey.
BVNK has highlighted the real-world impact of stablecoins in addressing various business challenges. For example, Deel leverages BVNK’s solutions to pay contractors worldwide almost instantly, providing rapid access to US dollars in regions with volatile local currencies. Stablecoins have also improved merchant settlement times for companies like Visa and Rapyd, while enabling faster payouts for global marketplaces such as Airbnb and Amazon. These examples underscore the efficiency, reliability, and cost savings that stablecoins offer businesses.
The broader stablecoin market has seen significant growth in recent years, with global stablecoin transactions reaching $24 trillion in 2024, including $5.2 trillion dedicated to payments—a figure three times greater than PayPal’s annual volume. Increasing regulatory clarity, such as the EU’s MiCA framework and proposed US stablecoin legislation, has further legitimised stablecoins as a tool for financial services. Moves by major firms, including Visa’s tokenisation platform and Stripe’s $1 billion acquisition in the space, highlight the growing interest in integrating stablecoins into traditional financial products.
With this latest funding, BVNK is focusing on expanding its presence in the United States, one of the world’s largest markets for payments. The company has been building its local team, securing banking infrastructure, and obtaining necessary operational licenses. It has also announced plans to open offices in San Francisco and New York City. According to Hemson Struthers, BVNK is well-positioned to capitalise on the opportunities presented by evolving legislation and market trends, with ambitious plans for 2025 to further the adoption of stablecoin payments and support global business growth.
The company views stablecoins as an essential upgrade to payment infrastructure, with the potential to replace legacy systems and enable seamless, real-time transactions between stablecoins and fiat currencies. This funding round represents a vote of confidence in BVNK’s vision and its role in shaping the future of global payments.
