Stablecoin payment infrastructure provider BVNK has secured $50m in a Series B funding round and is now focusing on expanding its presence in the US market.
Led by Haun Ventures’ General Partner Diogo Mónica, the $50m funding round included participation from Coinbase Ventures, Scribble Ventures, DRW VC, and existing backers Avenir and Tiger Global.
The funding will drive BVNK’s expansion into the US, with new offices in San Francisco and New York City.
Over the past year, the company has laid the groundwork for this move by building a local team, establishing banking infrastructure and obtaining operational licences to support US businesses adopting stablecoin payments.
Jesse Hemson-Struthers, CEO of BVNK, said: “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.”
Since completing its Series A funding in 2022, the company has made significant strides in the stablecoin space. It has developed a platform designed to simplify the process of sending, receiving and storing stablecoins.
Over the past year, the company has processed more than $10bn in annualised payment volumes, achieving a 200% year-on-year growth.
Collaborating with customers such as Deel, Rapyd, and Trust Payments, the company has played a key role in enabling stablecoin-powered payment solutions. It has also established partnerships with leading stablecoin providers, including PayPal, Circle and First Digital.
Diogo Mónica, General Partner at Haun Ventures, stated: “Stablecoins represent the most significant infrastructure upgrade to global payments in decades.
“BVNK has already demonstrated its ability to unlock real-world use cases at scale, and we’re thrilled to support their journey to make instant, borderless payments a reality for businesses everywhere. This is the kind of innovation that defines the future of finance.”
Stablecoins had a record-breaking year in 2024, recording approximately $17trn in transactions. Looking ahead, Chris Harmse, Co-Founder and Chief Business Officer at BVNK, predicts that stablecoin transactions will exceed $18trn in 2025.
Harmse highlighted key use cases for stablecoins, including global payroll with Deel, merchant settlements with companies like Rapyd and Visa, and faster payouts for marketplaces like Airbnb and Amazon.
Shan Aggarwal, VP of Corporate and Business Development of Ventures at Coinbase, commented: “Today’s consumers want payments that happen as fast as the internet, across borders, and without compromising security.
“Stablecoins offer that solution and are helping update the financial system. Coinbase Ventures is excited to invest in BVNK as they seek to drive greater global adoption of stablecoin payments.”
