BVNK secures $50M Series B to accelerate stablecoin payments in the US, backed by Haun Ventures and Coinbase Ventures

BVNK, the global leader in stablecoin payments infrastructure, today announced the successful closing of its $50 million Series B funding round, led by Haun Ventures, with participation from Coinbase Ventures, Scribble Ventures, DRW VC and existing investors Avenir and Tiger Global. Diogo Mónica (General Partner) is leading the deal on behalf of Haun Ventures.

BVNK is led by co-founders Jesse Hemson-Struthers (CEO), a serial entrepreneur with successful exits to Naspers and Sportradar; Donald Jackson (CTO), a seasoned technologist with a background in enterprise systems and blockchain; and Chris Harmse (CBO), a chartered financial analyst and former partner at a macro/crypto fund.

Since its Series A funding in 2022, BVNK has been on a mission to accelerate global money movement with stablecoins. Over the last two years, the company has:

• Built a best-in-class platform that makes sending, receiving, and storing stablecoins seamless.
• Processed over $10 billion in annualised payment volumes, with 200% year-on-year growth.
• Worked with customers like Deel, Rapyd, and Trust Payments to power their stablecoin payments.
• Secured partnerships with the world’s leading stablecoin providers, PayPal, Circle, and First Digital, strengthening access to all major stablecoins.

Stablecoins are solving real-world problems for businesses by making payments faster, more efficient, and more reliable. Some examples of how businesses are using stablecoins include:

• Global payroll: Deel uses stablecoins to pay contractors worldwide in minutes, addressing demand for USD in volatile markets. Previously, payouts could take up to a week in some regions.
• Streamlined merchant settlements: Companies like Rapyd and Visa use stablecoins to instantly settle payments with thousands of merchants globally, eliminating cross-border delays and freeing up liquidity for merchants.
• Marketplace payouts: Global marketplaces such as Airbnb and Amazon rely on payment providers like Worldpay to send payouts to millions of sellers worldwide. Stablecoins can eliminate delays and reduce FX risks associated with traditional banking systems, ensuring faster, more reliable payments for sellers while improving operational efficiency for marketplaces.

Earlier this year, BVNK launched Layer1, a software solution tailored to enterprises that want to manage their stablecoin payments in-house, solidifying its position as a leader across the entire stablecoin adoption curve.

Stablecoins are emerging as a transformative infrastructure upgrade for payments, positioned to take on legacy systems like Swift, with adoption accelerating at an unprecedented rate:

• In 2024, $24 trillion in stablecoin transactions were processed globally, with $5.2 trillion attributed to payments (that’s 3x PayPal’s payments volume).
• Major financial players like Stripe (with its $1bn stablecoin acquisition) and Visa (with its tokenization platform) are embracing this technology.
• Regulatory clarity and evolving legislation, like the forthcoming US stablecoins bill, are further legitimising stablecoins within global financial services.

As part of its Series B, BVNK is expanding its operations to the United States, opening a San Francisco office and establishing a presence in New York City. Over the past year, BVNK has been building out its US team, local banking infrastructure, and operational licenses to serve US businesses eager to harness the benefits of stablecoin payments.

Jesse Hemson-Struthers, CEO of BVNK, said: "Stablecoins are redefining how money moves across the world—faster, more cost-efficient, and with fewer barriers. At BVNK, we’re building the infrastructure to make these new rails accessible to businesses everywhere, empowering them to operate at the speed of today’s economy. This funding marks the next step in our mission to transform payments for the modern world."

Shan Aggarwal, Vice President of Corporate and Business Development, Ventures at Coinbase commented: "Today's consumers want payments that happen as fast as the internet, across borders, and without compromising security. Stablecoins offer that solution and are helping update the financial system. Coinbase Ventures is excited to invest in BVNK as they seek to drive greater global adoption of stablecoin payments." 

Diogo Mónica, General Partner at Haun Ventures, said: "Stablecoins represent the most significant infrastructure upgrade to global payments in decades. BVNK has already demonstrated its ability to unlock real-world use cases at scale, and we’re thrilled to support their journey to make instant, borderless payments a reality for businesses everywhere. This is the kind of innovation that defines the future of finance."