BVNK, a stablecoin infrastructure platform established in 2021, has successfully raised $50 million in its Series B funding round. The firm, based in London, plans to utilize this capital to fuel the next stage of its business expansion, particularly focusing on growing stablecoin payments, as stated in a Dec. 17 blog post.
This Series B funding follows the $40 million Series A round in May 2022, led by Tiger Global. In November 2024, BVNK had already announced intentions to raise $50 million. The current round values the company at $750 million and comes as it aims to enhance its footprint in the U.S., having sought and obtained regulatory approvals in several states like Alabama, Florida, Michigan, and Delaware.
Haun Ventures spearheaded the Series B investment, with Coinbase Ventures, DRW Venture Capital, and Scribble Ventures also participating. Existing investors Avenir and Tiger Global supported the raise as well.
In October, BVNK and Circle formed a partnership to extend the utility of the stablecoin USDC to more payment forms such as payrolls and large-scale payouts. Earlier this year, BVNK introduced its self-custody solution, Layer1, to simplify stablecoin adoption for businesses.
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