UK-headquartered BVNK
Based on the price paid for stock issuances, our rough calculations indicate a current valuation for BVNK of around $625 million. Last year Stripe acquired another stablecoin infrastructure firm, Bridge, for $1.1 billion. At the time of the December 2024 funding round, BVNK’s stablecoin payment volumes were at an annualized rate of $10 billion and have now grown to $12 billion. Some of the funds were used to expand into the United States, opening offices in New York and San Francisco. So far the company has money transmitter licenses in 18 US states.
“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, Visa. Last week Visa also announced a relationship with Bridge. Fintechs using Bridge’s stablecoin infrastructure will be able to offer Visa cards to enable their customers to pay using stablecoins. This is part of Visa’s push to integrate stablecoins into its existing network and products.
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