Visa has invested in BVNK, a stablecoin payment platform, indicating a strong interest in digital asset innovation. This partnership followed BVNK’s successful $50 million Series B funding round, with plans for US expansion. Visa continues to enhance its crypto offerings, allowing users to utilize cryptocurrencies with its debit cards and launching a tokenized asset platform.
Visa, the global payments giant, has made headlines by investing in London-based startup BVNK, which focuses on stablecoin payment infrastructure. The investment announcement on May 7 revealed a strategic partnership through Visa Ventures. While details remain somewhat vague, BVNK describes this as more than just funding. Jesse Hemson-Struthers, the CEO, expressed enthusiasm about teaming up with Visa, calling it a chance to connect deep expertise in payment networks with innovative stablecoin technology.
Rubail Birwadker, Visa’s head of products and partnerships, highlighted the growing presence of stablecoins in global payment systems. He mentioned that this investment is part of Visa’s strategy to explore new technologies to enhance services for clients and partners. This move comes amid a broader industry trend where stablecoins are increasingly entering mainstream commerce.
The investment comes shortly after BVNK secured $50 million in a Series B funding round at the end of 2024, which was led by Haun Ventures. The round also featured contributions from heavyweights like Coinbase Ventures and DRW VC, just to name a few. BVNK’s valuation was pegged at around $750 million, and with its US expansion plans underway, it aims to build local banking infrastructures and secure operational licenses for American companies.
Visa has been ramping up its interest in the cryptocurrency realm. Notably, in late October 2024, it announced that users with eligible Visa debit cards would soon be able to make real-time deposits and withdrawals on Coinbase. With millions already using a debit card connected to the exchange, this move adds substantial value to the Visa card experience.
In addition to partnerships like these, Visa introduced its Visa Tokenized Asset Platform, aiming to streamline the creation and management of tokenized assets. Among these assets are stablecoins and potential central bank digital currencies, indicating a shift in how the financial landscape is evolving. As Visa dives deeper into the expansive world of digital assets, it underscores a persistent trend where crypto is no longer just about disruption, but rather integration into established financial systems.
