BVNK raises $50M to enter US stablecoin market in 2025
Stablecoin infrastructure company BVNK has successfully raised $50 million in a Series B funding round led by Haun Ventures, with plans to expand its operations into the United States.
The round included participants such as Coinbase Ventures, Scribble Ventures, DRW VC, and existing investors like Avenir and Tiger Global.
BVNK intends to use the newly acquired capital to open offices in San Francisco and New York City by 2025.
Currently based in London, BVNK has reached an estimated valuation of $750 million.
The company’s U.S. offices will focus on establishing local banking infrastructure and acquiring operational licenses to serve U.S.-based companies.
This funding round follows a previous investment of $43.2 million led by Tiger Global in 2022, when BVNK was valued at approximately $327 million.
The company specialises in providing white-label infrastructure for businesses looking to manage stablecoin payments internally, and it claims to have processed over $10 billion in annual payment volumes, experiencing 200% year-on-year growth.
BVNK’s partners include global stablecoin providers such as PayPal, Circle, and First Digital.
It will face competition from established players like Paxos, Circle, and Ripple (CRYPTO:XRP) in the U.S. stablecoin market.
The company expects that regulatory clarity, including potential stablecoin legislation, will help solidify stablecoins’ role in the global financial system.
“Stablecoins represent the most significant infrastructure upgrade to global payments in decades. [...] This is the kind of innovation that defines the future of finance,” said Diogo Mónica, general partner at Haun Ventures.
The stablecoin industry is projected to exceed a trillion-dollar market value by 2035, with the U.S. being its largest market.
The current combined market capitalisation stands at $203 billion, according to DefiLlama data.
