BVNK has secured investment from Visa today (May 6), marking the payments giant’s first-ever backing of a stablecoin-focused company.
The investment comes via Visa Ventures, the company’s venture capital arm. Jesse Hemson Struthers, Co-Founder and CEO of BVNK, said it reflects a “once in a generation shift to a new foundational payment technology.”
BVNK previously gained momentum in December 2024, when it closed a $50m Series B funding round with support from major financial companies, led by Haun Ventures and featured the likes of Coinbase Ventures.
Visa’s latest involvement signals just how rapidly stablecoins are moving into the financial mainstream. It’s a pace that Rubail Birwadker, Head of Growth Products and Partnerships at Visa, says the investment is intended to accelerate.
“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,” he said.
Stablecoins have quickly grown in popularity in the financial industry, particularly for cross-border transactions. The digital currency combines the speed and security of blockchain technology with the price stability of traditional fiat currencies.
According to Visa Onchain Analytics, there was $27trn in total stablecoin transaction
volume globally across 1.25 billion transactions in 2024. BVNK has played a large role in facilitating this growing number of transactions, processing over $12bn annually.
“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,” says Hemson Struthers.
Regulatory roadblocks and hurdles
Despite the growing adoption of stablecoins, the technology still faces significant hurdles.
One of the key challenges is the movement of funds between traditional currencies and stablecoins. To address this, BVNK launched a unified wallet last month that enables access to both stablecoins and global fiat payments through a multi-rail infrastructure.
Regulation remains another major obstacle. Traditional financial institutions, such as Bank of America, are holding back from fully embracing stablecoins until clearer regulatory frameworks are in place.
Progress on this front in the US has recently hit a roadblock. Earlier this week, up to nine Democrat Senators who had previously supported the stablecoin bill have now opposed it in its current form. However, this development suggests the sector is advancing, with or without regulatory certainty.
“We’re thrilled to welcome Visa – the original payments innovator – as an investor, and a partner in our mission to upgrade the global payment system,” Hemson Struthers concluded.
