Payments Behemoth Visa has invested in BVNK, a startup based in London, focused on the stablecoin payment infrastructure, signaling continuous interest in the innovation of digital assets.
According to a BVNK announcement of May 7, the startup “obtained a strategic visa investment via their visa ventures”. In addition, although the company does not fully explain what it implies, it calls investment as “more than capital” and describes it as a partnership. The CEO of the company, Jesse Hemson-Struthers, wrote:
“I am particularly enthusiastic about what means to associate with Visa – the original innovator of payments. Their in -depth expertise in the creation of global payment networks, combined with our infrastructure in Stablecoin, creates powerful possibilities of redefinition of the operation of companies in the digital economy today.”
Rubail Birwadker, product manager and partnerships at Visa, explained that “Stablecoins are quickly part of global payment flows”. He said Visa is investing in new technologies and manufacturers, such as BVNK, which are involved in “What’s Next in Commerce to better serve our customers and partners”.
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Bvnk is on a roll
Visa’s investment in BVNK follows the Stablecoin infrastructure company closes a financing tour of the B series of $ 50 million led by Haun Ventures at the end of 2024, with plans to develop in the United States. La Ronde has seen the participation of industry heavyweights, including Coinbase Ventures, Scribble Ventures, DRW VC and existing investors Avenir and Tiger Global.
The company is based in London and was worth around $ 750 million at the time. BVNK planned to take advantage of its American offices to develop a local banking infrastructure and work on operational licenses to serve local businesses.
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Visa Banks on Crypto
Visa has increasingly increased its involvement in cryptographic space. At the end of October 2024, the company authorized visa users with eligible debit cards can soon deposit and instantly remove funds from their accounts with Crypto Exchange Coinbase. Visa said at the time that “Coinbase already has millions of users with a debit card connected to their account”, and now they will obtain “real -time delivery of account funds for those who use an eligible visa debit card”.
During the same month, Visa unveiled its Visa token token asset platform. This new system aims to simplify the emission and management of tokenized assets, including token deposits, stablecoins and digital currencies of the central bank.
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