Visa invests in stablecoin platform BVNK as it doubles down on digital asset strategy

Visa Ventures, Visa’s global investment arm, has made an investment in BVNK, a stablecoin payment infrastructure provider, as the company strengthens its presence in digital finance, BVNK announced Thursday.

The move came after BVNK secured $50 million in a Series B round led by Haun Ventures last December, with participation from Coinbase Ventures, Tiger Global, and others. The funding was aimed at supporting BVNK’s US expansion, including new offices in San Francisco and New York.

“We’re proud to support BVNK as they help accelerate global adoption of stablecoin payments,” said Rubail Birwadker, Head of Growth Products and Partnerships at Visa, in a statement. The financial terms of the new deal were not disclosed.

Birwadker said the move reflects Visa’s belief that stablecoins are becoming a mainstream part of global payments. This also marks the company’s first strategic investment in stablecoin infrastructure.

“Stablecoins are fast becoming a part of global payment flows, and Visa invests in new technologies and builders like BVNK, staying at the forefront of what’s next in commerce to better serve our clients and partners,” he said.

Founded in London and now expanding to the US, BVNK is positioning itself as the backend for businesses looking to move money on-chain. Earlier this year, it opened offices in San Francisco and New York, hiring former BlockFi executive Amit Cheela and Cross River’s Keith Vander Leest to lead its American operations.

“We’re experiencing a once-in-a-generation shift to a new foundational payment technology, powered by stablecoins,” said Jesse Hemson Struthers, Co-Founder & CEO of BVNK.

“At BVNK, we’re building the infrastructure to make these new rails accessible to businesses, empowering them to operate at the speed of today’s economy. We’re thrilled to welcome Visa – the original payments innovator – as an investor and partner in our mission to upgrade the global payment system,” he added.

Visa has greatly expanded its stablecoin strategy, moving from pilot programs to the large-scale integration of stablecoin payments across its global network.

Earlier this month, the global payments giant announced its partnership with Bridge, a stablecoin infrastructure startup, to enable stablecoin-linked Visa cards in multiple countries through a single API integration.

Visa is also working with other partners like Baanx and Rain to broaden stablecoin use cases. The company is reportedly planning to join the Global Dollar Network, a stablecoin consortium focused on USDG—a fully-backed, programmable digital dollar.