Building best-in-class stablecoin payments 

When we announced our Series A led by Tiger Global in 2022, we stated our ambition to accelerate global money movement with stablecoins.

Since then, we’ve been busy building infrastructure that makes it easy for businesses to send, receive, exchange, and store stablecoins and fiat funds, across domestic and international payment rails and blockchains. In close partnership with our customers, we’ve grown our payments volume 200% year on year, processing $10 billion in annualised volumes for businesses like Deel, Rapyd, and Trust Payments.

We’ve built from the ground up, with the guiding principle to abstract blockchain complexity. We’ve forged strong partnerships to simplify access to all the leading stablecoins. And we’ve continued to invest in fiat and crypto licenses globally, as well as top-tier banking partnerships. Earlier this year, we launched our self-custody solution, Layer1, so businesses at all stages of their stablecoin journey can benefit from our ecosystem.

Unlocking real-world value

Over the last few years, we’ve seen stablecoins solving real world problems for businesses across industries, delivering instant settlement, efficiency and reliability. 

Examples include:

• Global payroll: Deel uses BVNK to pay thousands of contractors worldwide near-instantly using stablecoins like USDC. Workers get fast access to USD in regions where local currencies can be volatile. No more waiting days for their wages, or losing value to unfavourable currency conversions.
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• Merchant settlements: Stablecoins enable companies like Rapyd and Visa to instantly settle payments with merchants globally. By eliminating cross-border banking delays, merchants gain faster access to funds and improved liquidity.
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• Marketplace payouts: Stablecoins can streamline payouts for global marketplaces like Airbnb and Amazon. Payment providers like Worldpay are well-positioned to leverage stablecoins to eliminate payment delays, reduce FX risks, and ensure faster, reliable payouts to millions of sellers worldwide.

These use cases demonstrate the tangible benefits of stablecoins today, but we’re even more excited about the opportunities on the horizon.

We’re at an inflection point for stablecoins

Much of what we’ve achieved at BVNK in the last few years has been in a challenging market for crypto businesses. But our ambition hasn’t wavered. We believe stablecoins are an infrastructure upgrade for payments, ready to replace legacy systems like Swift.

This is starting to play out across the market, and in 2024, we’ve seen significant milestones:

• $24 trillion in global stablecoin transactions, with payments accounting for $5.2 trillion — 3x PayPal’s volume. Last month, 28.5 million unique stablecoin users sent over $600 million onchain. Stablecoin usage could reach 10% of M2 and FX transactions in the US in coming years. 
  
  
• Stripe’s $1 billion stablecoin acquisition and Visa’s launch of a tokenization platform reflect how major financial institutions are integrating stablecoins into their products.
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• Growing regulatory clarity, with MiCA in the EU and the proposed US stablecoins bill further legitimizing the role of stablecoins in global financial services.
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It's clear that that momentum – and network effects – are growing.

At BVNK, we see a future where stablecoins and all leading fiat currencies are seamlessly interchangeable in real time. We’re building the backbone for global stablecoin and fiat transactions, abstracting complexity and enabling businesses to grow internationally.

Streamlining global payments for US businesses

For BVNK, now is the right time to double down on our mission. Closing this funding round is a vote of confidence in our strategy, and enables us to bring stablecoin payments to one of the largest global markets: the US.

Over the past year, we’ve been building out our US team, local banking infrastructure, and operational licenses. Today, we’re also announcing that we're opening an office in San Francisco and establishing a presence in New York City.

With growing regulatory clarity and exciting new US legislation on the horizon, we’re ready to make 2025 a transformative year for stablecoin payments.