Visa Ventures has made a strategic investment in payments infrastructure provider BVNK, highlighting the company's interest in stablecoin technology.
Visa's Investment in BVNK
BVNK, a stablecoin payment infrastructure provider, announced a strategic investment from Visa. The investment was revealed by BVNK CEO Jesse Hemson-Struthers. No financial details were disclosed. This comes after the company raised $50 million in a Series B funding round in December 2024, led by Haun Ventures and supported by other notable investors.
The Potential of Stablecoins
Visa's investment comes at a time of growing institutional interest in stablecoins. Earlier, Visa partnered with startup Bridge to enable fintechs to issue Visa cards funded directly with stablecoin balances. This allows users to spend stablecoins, converting them to local fiat currency at the point of sale, mitigating exposure to crypto volatility.
The Future of BVNK and Stablecoins
According to Visa's Onchain Analytics platform, stablecoin transaction volumes have reached $33.4 trillion, indicating their growing importance beyond trading. BVNK aims to expand its US operations, creating efficient processes for stablecoin transactions.
Visa's investment in BVNK highlights the growing interest from major companies in stablecoins and their potential to transform the global payment landscape.
