Payments giant Visa has made headlines with its recent investment in BVNK, a London-based startup specializing in stablecoin payment infrastructure. This move highlights Visa’s ongoing commitment to embracing digital asset innovation.
According to a May 7 announcement, BVNK successfully secured a strategic investment from Visa through its Visa Ventures arm. Although the details of the investment were not fully disclosed, BVNK emphasized that it represents a partnership that extends beyond mere capital infusion. CEO Jesse Hemson-Struthers expressed enthusiasm about collaborating with Visa, stating that their expertise in global payment networks combined with BVNK’s stablecoin infrastructure could redefine business operations in the digital economy.
“I’m particularly excited about what it means to partner with Visa—the original payments innovator. Their deep expertise in building global payment networks, combined with our stablecoin infrastructure, creates powerful possibilities for redefining how businesses operate in today’s digital economy.”
Rubail Birwadker, head of products and partnerships at Visa, commented that “stablecoins are fast becoming a part of global payment flows.” He indicated that Visa continues to invest in emerging technologies and businesses like BVNK to enhance commerce and serve its clients effectively.
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BVNK’s Growth Trajectory
This investment comes on the heels of BVNK closing a $50 million Series B funding round led by Haun Ventures, with a plan to expand into the U.S. market. The funding round attracted significant interest from industry leaders, including Coinbase Ventures and DRW VC, reflecting BVNK’s promising potential.
With its headquarters in London, BVNK was reportedly valued at approximately $750 million at the time of the funding. The company intends to utilize its U.S. offices to build a local banking infrastructure and pursue operational licenses to better serve domestic enterprises.
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Visa’s Commitment to the Crypto Space
Visa has been progressively increasing its involvement in the cryptocurrency landscape. In late October 2024, the firm announced that users with eligible debit cards would be able to instantly deposit and withdraw funds through their accounts connected to the crypto exchange Coinbase. The ongoing adaptation reflects Visa’s recognition of the expanding role of cryptocurrencies.
The same month, Visa introduced its Visa Tokenized Asset Platform, designed to facilitate the management and issuance of tokenized assets, which includes stablecoins and central bank digital currencies. This initiative represents an important step towards integrating blockchain technology into mainstream finance.
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