BVNK, a prominent player in the stablecoin infrastructure sector, has successfully closed a $50 million Series B funding round, a pivotal move aimed at expanding its operations into the lucrative United States market. This funding round was led by Haun Ventures, with notable participation from **Coinbase Ventures**, **Scribble Ventures**, **DRW VC**, and key existing investors such as **Avenir** and **Tiger Global**.
The newly acquired capital will facilitate BVNK’s expansion to major U.S. cities, specifically San Francisco and New York City, slated for 2025. Currently based in London, BVNK is now valued at approximately $750 million, a significant increase from its 2022 valuation of around $327 million following a prior funding round of $43.2 million led by Tiger Global. These impressive figures underscore the increasing interest in the fintech space and the potential of stablecoins in reshaping global financial services.
In essence, BVNK offers a white-label infrastructure designed for businesses that want to manage stablecoin payments internally. With more than $10 billion processed in annual payment volumes, the company has reported a remarkable 200% year-on-year growth. BVNK has aligned itself with many global stablecoin providers, including **PayPal**, **Circle**, and **First Digital**, positioning itself as a strong contender in the competitive landscape.
As BVNK prepares to enter the U.S. market, it will face competition from established players like **Paxos**, **Circle**, and **Ripple**. However, with ongoing developments in stablecoin legislation and expected regulatory clarity in the United States, BVNK is optimistic about its growth trajectory. According to Diogo Mónica, general partner at Haun Ventures, “Stablecoins represent the most significant infrastructure upgrade to global payments in decades. This is the kind of innovation that defines the future of finance.“
The stablecoin market itself is on the verge of significant growth, projected to surpass the trillion-dollar mark by 2035, with the United States emerging as its largest market. Currently, the combined market capitalization of stablecoins stands at approximately $203 billion, according to data from DefiLlama. With more entering this space, BVNK’s plans reflect a broader trend in the fintech industry focusing on innovative solutions for cross-border transactions and liquidity requirements for decentralized finance.
As we watch the evolution of this market, BVNK’s foray into the U.S. could herald a new era of mainstream acceptance for stablecoins and their applications in the global economy.
