Programmable money startup Pave Bank has emerged from stealth with a $5.2 million funding round and a digital commercial banking license in Georgia.
In addition to offering multi-currency operating accounts and global payment connectivity, Pave Bank aims to provide a regulated platform for businesses to transact using stablecoins, Central Bank Digital Currencies, and tokenized Real World Assets.
The startup was founded by experienced banking and fintech leaders: Salim Dhanani (CEO), Simon Vans-Colina (CTO), and Dmitry Bocharov (COO). Dhanani previously worked at the World Bank before joining Carta Worldwide and co-founding fintech lender BigPay in Southeast Asia. Vans-Colina held positions at Citibank and Vocalink before co-founding Starling Bank and later Monzo with Tom Blomfield and Paul Rippon. Bocharov was part of the management team at Ferratum, a DAX-listed bank in Europe, before taking on the role of chief digital officer at VP Bank in Vietnam.
Dhanani shares, “We are championing a new path where Pave Bank customers will have access not only to the financial products they are familiar with but also a variety of digital asset-enabled offerings that will allow them to bank more efficiently in a regulated and secure environment.”
He adds, “Programmable banking represents the next stage in financial evolution. As more businesses adopt global operations, the solutions enabled by programmable money have the potential to transform banking, treasury, and credit products while unlocking many new services.”