Visa Supports Business-to-Business Stablecoin Payments Firm BVNK with Investment
Visa Embraces Stablecoins: Investing in BVNK and Partnering with Bridge
In a significant move towards the adoption of stablecoins, Visa has announced strategic partnerships with two key players in the stablecoin payment infrastructure market – BVNK and Bridge.
Last December, BVNK, a UK-headquartered company providing stablecoin payment infrastructure and wallet solutions, completed a $50 million Series B funding round. The round, which saw net new funds of approximately $36 million, values BVNK at around $625 million. Notably, Visa Ventures invested €2 million ($2.27m) in BVNK in March.
At the time of the funding round, BVNK's stablecoin payment volumes were at an annualized rate of $10 billion. Since then, these volumes have grown to $12 billion. BVNK has also expanded its operations into the United States, opening offices in New York and San Francisco. The company holds money transmitter licenses in 18 US states.
BVNK's substantial volume and focus on B2B cross-border payments make it a critical infrastructure partner for Visa's stablecoin ambitions. Customers of fintechs partnering with BVNK can now pay using stablecoins through Visa cards.
Simultaneously, Visa has also formed a relationship with Bridge, a company that recently was acquired by Stripe for $1.1 billion last year. Bridge's stablecoin infrastructure will enable fintechs to offer Visa cards, further enhancing Visa's push to integrate stablecoins into its existing network and products.
Rubail Birwadker, Head of Growth Products and Partnerships at Visa, stated that this investment helps Visa stay at the forefront of commerce. "By leveraging the APIs and infrastructure offered by BVNK and Bridge, we are able to abstract blockchain and regulatory complexity for fintechs and enterprises, enabling accelerated, cost-effective global payments and card-based spending," Birwadker said.
Visa's settlement platform now supports stablecoin settlements alongside over 25 fiat currencies worldwide, demonstrating growing institutional embrace of stablecoins in cross-border and retail payment corridors. With these partnerships, Visa is positioning itself at the forefront of stablecoin adoption in payments and settlements.
These moves are part of Visa's broader strategy to embed stablecoin infrastructure for enhanced global payments and card-based spending. Pilot programs and extended capabilities are expected through 2025, as Visa continues to lead the charge in the stablecoin revolution.
Insights from the partnerships reveal Visa's stablecoin ambitions, with the finance giant leveraging technology by investing in BVNK and collaborating with Bridge to enhance global payments and card-based spending.
BVNK's substantial volume and focus on B2B cross-border payments, combined with Bridge's stablecoin infrastructure, will foster Visa's growth in the stablecoin adoption landscape, offering fintechs the ability to pay using stablecoins through Visa cards.
