Visa Invests In BVNK, Expands Stablecoin Infrastructure
1min read Visa Ventures, the global investment arm of Visa, has announced an investment in BVNK, a stablecoin payment infrastructure provider. This strategic move underscores Visa's commitment to strengthening its presence in the digital finance sector. The investment follows BVNK's successful Series B funding round in December, which raised $50 million and was led by Haun Ventures, with participation from Coinbase Ventures, Tiger Global, and other investors. The funds from the Series B round were earmarked for BVNK's expansion into the US market, including the establishment of new offices in San Francisco and New York.
Rubail Birwadker, Head of Growth Products and Partnerships at Visa, expressed enthusiasm about the investment, stating, "We’re proud to support BVNK as they help accelerate global adoption of stablecoin payments." This investment marks Visa's first strategic foray into stablecoin infrastructure, reflecting the company's belief that stablecoins are becoming an integral part of global payment systems. Birwadker further elaborated, "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."
BVNK, founded in London, is expanding its operations to the US, positioning itself as a backend solution for businesses aiming to facilitate on-chain money transfers. The company has already made significant strides in the US market, opening offices in San Francisco and New York and hiring key executives, including former BlockFi executive Amit Cheela and Cross River’s Keith Vander Leest, to lead its American operations. Jesse Hemson Struthers, Co-Founder & CEO of BVNK, highlighted the transformative potential of stablecoins, stating, "We’re experiencing a once-in-a-generation shift to a new foundational payment technology, powered by stablecoins." He added, "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 partner in our mission to upgrade the global payment system."
Visa's investment in BVNK is part of a broader strategy to integrate stablecoin payments into its global network. The company has transitioned from pilot programs to large-scale integration, demonstrating its commitment to leveraging new technologies to enhance its payment services. This move not only positions Visa at the forefront of digital finance innovation but also underscores its dedication to providing cutting-edge solutions to its clients and partners. 
