Coinspeaker BVNK Seeks $50 Million Funding as Stablecoin Payment Momentum Builds
London-based payments infrastructure startup BVNK is reportedly in early-stage discussions to secure at least $50 million in fresh funding as interest in stablecoin payments surges. The Tiger Global-backed firm aims to capitalize on the sector’s growing appeal following Stripe’s $1.1 billion acquisition of stablecoin-focused startup Bridge.
Founded in 2021, BVNK processes $8 billion annually. It employs over 270 staff and operates under regulatory licenses in the UK, Spain, South Africa, and Malta. CB Insights also recognizes the company under the Fintech100 list, highlighting its promising role in the financial technology landscape. The startup’s last funding round, in May 2022, raised $40 million from a host of investors, including The Raba Partnership, Avenir, and Kingsway Capital.
Apart from its stablecoin-related offerings, BVNK has a wide range of products that are customized to offer tailored services to users.
The Stablecoin Revolution
The buzz around stablecoins is reshaping global payments. With $5 trillion in stablecoin transactions over the past year, more than a third of Visa’s 60-year cumulative volume, the technology has transcended its initial trading-focused purpose. Corporations and financial institutions now see stablecoins as efficient, transparent, and accessible payment tools.
BVNK’s proprietary solution Layer1 launched in June 2024, offers self-custody digital asset solutions to streamline stablecoin payments for businesses. This means that companies can exercise complete control over their digital assets and private keys.
Meanwhile, major players have embraced stablecoin payments. Last year, payment giant PayPal launched its own US dollar-denominated stablecoin, PayPal USD (PYUSD). On the other hand, Visa has been helping banks launch their own stablecoins.
Regulatory frameworks across Europe, Asia, and the Middle East have also started focusing on the stablecoin sector, enhancing its credibility. In parallel, acquisitions like Coinbase’s recent purchase of Utopia Labs signal growing competition among firms to dominate this evolving market.
Global Investors Eye BVNK amid Sector Growth
The surge in stablecoin adoption and the high-profile acquisition by Stripe have amplified investor interest in BVNK. As per a recent report by Bloomberg, insiders suggest a strong appetite for the funding round, as BVNK’s technological offerings align with the sector’s fast-paced innovation.
Though the company is aiming to secure at least $50 million, the size and final list of investors can still change amid the early stage of negotiations, according to the report.
As stablecoins gain legitimacy from regulators and adoption by financial giants, BVNK is well-positioned to lead the next phase of payment innovation. The ongoing funding talks could provide the momentum the company needs to achieve so.
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BVNK Seeks $50 Million Funding as Stablecoin Payment Momentum Builds
