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Digital assets payments platform BVNK has raised USD 50 million in a Series B funding round to support its global expansion and advance its stablecoin payments infrastructure for businesses.
The investment round was led by Haun Ventures, with participation from Coinbase Ventures, Scribble Ventures, DRW Venture Capital, and existing investors Avenir and Tiger Global. BVNK said it selected Haun Ventures to lead the round due to its experience in backing companies shaping the future of financial services. Haun Ventures was founded by Katie Haun, a former General Partner at Andreessen Horowitz and a former Board Member at Coinbase.
BVNK’s plans for 2025 include further expansion in the United States, where it is establishing offices in San Francisco and New York City. The company said it has been building local banking infrastructure and securing operational licences in preparation for entering the market.
Since its Series A in 2022, led by Tiger Global, BVNK has developed infrastructure to enable businesses to send, receive, exchange, and store stablecoins and fiat funds across domestic and international payment rails and blockchains. It reports a 200% year-on-year increase in payment volumes, processing USD 10 billion in annualised transactions for clients including XM, Rapyd, and Trust Payments. The company has also launched a self-custody solution, Layer1, to serve businesses at different stages of adopting stablecoin payments.
BVNK highlighted several current use cases for stablecoins, including near-instant global payroll for contractors, merchant settlements that bypass cross-border banking delays, and faster marketplace payouts for global platforms. The company said these examples demonstrate the potential for stablecoins to improve liquidity and reduce settlement times.
According to BVNK, stablecoin transaction volumes reached USD 24 trillion globally in 2024, with USD 5.2 trillion attributed to payments — three times PayPal’s volume. It noted increased institutional interest, including Stripe’s USD 1 billion stablecoin acquisition and Visa’s launch of a tokenisation platform, alongside growing regulatory clarity in the EU and the US.
“Stablecoins are an infrastructure upgrade for payments, ready to replace legacy systems,” said Jesse Hemson-Struthers, Co-Founder and Chief Executive Officer at BVNK.
The company said the funding round represents a vote of confidence in its strategy and will enable it to scale its payment capabilities for enterprise clients, particularly in the U.S. market.
