Pave Bank has successfully secured $39 million in funding to advance its vision of being the first “programmable bank” tailored for digital assets and the AI era.
The funding round was spearheaded by Accel, with notable participation from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments.
Founded by CEO Salim Dhanani—who previously held positions at the World Bank before co-founding fintech companies such as Carta Worldwide and BigPay—Pave Bank also includes co-founders Simon Vans-Colina and Dmitry Bocharov. Vans-Colina has experience with Citibank, Vocalink, and Starling Bank, while Bocharov was a member of the management team at Ferratum, a DAX-listed bank with operations throughout Europe.
Pave Bank offers a holistic platform that integrates commercial banking services—including deposit accounts, extensive payment options, FX liquidity, payment card issuance, and corporate treasury management—with high-quality digital asset management features, an instant settlement network, and an OTC trading desk.
The bank’s approach allows clients to consolidate various services encompassing fiat banking, custody, and liquidity under a single regulatory framework, compliance standard, and interface. This consolidation provides businesses using Pave Bank the capability to manage both fiat and digital assets in real-time, automate treasury operations, and lessen dependence on intermediaries. Exchanges and market makers can efficiently handle digital assets, fiat currencies, and fixed-income products simultaneously, all while engaging counterparties through the Pave Network.
Corporations seeking to implement stablecoins into their operations can seamlessly integrate digital and fiat treasuries with appropriate regulatory oversight, enhancing speed, control, and cost-effectiveness.
With this new funding, Pave Bank aims to broaden its licensing coverage, develop its programmable treasury and financial products, and foster integrations with major financial and digital asset ecosystems.
Dhanani articulated the bank’s vision: “The global financial system is transitioning toward regulated on-chain finance. Institutions require a reliable bridge between traditional and modern finance. We are establishing a multi-asset bank that blends the stability and prudential oversight of conventional finance with the automation, speed, and intelligence offered by digital assets. This initiative is focused on redefining how money moves securely, transparently, and automatically across global financial systems.”