Stablecoin payments infrastructure firm BVNK has secured a $50 million Series B round to expand its operations in the United States.
The funding was led by Haun Ventures, with participation from Coinbase Ventures, Scribble Ventures, DRW VC, as well as existing investors Avenir and Tiger Global.
As a licensed electronic money institution in the UK and Europe, BVNK offers named IBANs for EUR and GBP and provides access to payment schemes including Sepa, Sepa Instant, and Faster Payments. This enables merchants to send and receive payments from suppliers and partners.
Since its $40 million Series A funding in 2022, BVNK has processed over $10 billion in annualized payment volumes, achieving a 200% year-on-year growth rate. Key customers include Deel, Rapyd, and Trust Payments, which can utilize stablecoins from PayPal, Circle, and First Digital for instant cross-border transactions.
As part of its Series B funding, BVNK is opening a new office in San Francisco and establishing a presence in New York City. Over the past year, the firm has been expanding its US team, local banking infrastructure, and operational licenses, as stablecoins increasingly challenge established payment systems like SWIFT and traditional card networks.
In 2024, global stablecoin transactions reached $24 trillion, with $5.2 trillion attributed to payments—three times PayPal’s total payment volume. The market is poised for further growth, particularly following the recent launch of Ripple’s stablecoin RLUSD and increased adoption by banks and payment institutions worldwide.
Jesse Hemson-Struthers, CEO of BVNK, stated: “Stablecoins are redefining how money moves across the world—faster, more cost-efficient, and with fewer barriers. At BVNK, we’re building the infrastructure to make these new rails accessible to businesses everywhere, empowering them to operate at the speed of today’s economy. This funding marks the next step in our mission to transform payments for the modern world.”