What to know:
- Visa decided to pour some cash into BVNK, a startup looking to make stablecoin-based payment systems the norm for businesses.
- London-based BVNK is now processing a cool $12 billion in stablecoin transactions every year and has its eyes set on the U.S. market.
- This investment is part of a much bigger movement of traditional finance companies jumping on the blockchain and stablecoin bandwagon. Who needs old-school payments anyway?
In a move that could only be described as “you can’t ignore the future,” global payments behemoth Visa (V) took the plunge and invested in BVNK, a startup creating stablecoin-based payment infrastructure. Because, apparently, blockchain-powered money movement is now where the money’s at. Old money meets new tech, what a world!
“Visa’s deep expertise in building global payment networks, combined with our stablecoin infrastructure, creates powerful possibilities for redefining how businesses operate in today’s digital economy,” said BVNK co-founder and CEO Jesse Hemson-Struthers, sounding all visionary in a blog post on Wednesday. Well, isn’t that just a mouthful of tech-talk?
According to a BVNK spokesperson, the deal is sealed, but they’re keeping the investment amount tighter than a wallet with no coins. Shocking, right?
So, what does BVNK actually do? It builds software that lets businesses send and receive stablecoins—those crypto tokens pegged to fiat currencies like the U.S. dollar (because who doesn’t love the sound of a tokenized dollar?). This London-based company is already handling $12 billion worth of stablecoin action annually and recently expanded into the U.S., because why not take over the world? They’ve even secured licenses in several U.S. states. Nothing says “we’re serious” like that paperwork, right?
And here’s the kicker: this isn’t some lonely startup. It’s part of a bigger wave that’s transforming finance. Blockchain and stablecoins are the new hotness, offering a quicker and cheaper way to make payments. Think remittances, payroll, commerce—basically everything traditional banks could do, but faster and cheaper. What’s not to love? Global giants like Stripe, PayPal, and now Visa are all clamoring to get in on the action. It’s a race, and apparently, Visa’s in the lead.
“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,” said Rubail Birwadker, head of growth products and partnerships at Visa. Sounds like Visa’s hoping to be the cool kid on the blockchain block.
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2025-05-07 17:29