Visa, the payment processing giant, is investing in BVNK, a company specializing in stablecoin payment networks. This move aims to boost Visa’s business-to-business (B2B) transaction capabilities.
Automating Global Payments with Stablecoins
BVNK’s CEO, Jesse Hemson-Struthers, announced the investment (amount undisclosed) in a recent blog post. He highlighted BVNK’s focus on automating and streamlining global stablecoin payments for businesses of all sizes. Hemson-Struthers sees stablecoins as a faster, more efficient alternative to traditional banking systems. He emphasized BVNK’s current impressive transaction volume of $12 billion annually.
Expanding into the US Market
This partnership with Visa, described by Hemson-Struthers as a “payments innovator,” will be key to BVNK’s expansion into the US market. The collaboration is expected to significantly change how businesses handle digital transactions.
Visa’s Vision for the Future of Payments
Visa’s Rubail Birwadker, Head of Growth Products and Partnerships, explained the investment as part of Visa’s strategy to stay ahead of the curve in payment technology. He sees stablecoins as an increasingly important part of global payment flows.
BVNK’s Recent Success
It’s worth noting that BVNK recently completed a successful $50 million Series B funding round, with participation from notable investors like Coinbase Ventures.
