London-based BVNK specialising in stablecoin payments infrastructure has snapped $50 million in Series B funding. The round was led by Haun Ventures (which backed crypto gaming startup Argus Labs and web3 startup Thirdwave), with participation from Coinbase Ventures, Scribble Ventures, DRW VC, and existing investors Avenir and Tiger Global. Diogo Mónica, General Partner led the deal on behalf of Haun Ventures.
With this investment, BVNK is expanding its operations to the US, opening a San Francisco office, and establishing a presence in New York City. Over the past year, the company 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.
Why do businesses use stablecoins?
Stablecoins are solving real-world business problems by making payments faster, more efficient, and more reliable. Some examples of how businesses use stablecoins include global payroll, streamlined merchant settlements, and marketplace payouts. For instance, Deel uses stablecoins to pay contractors worldwide in minutes while it could take up to a week in some regions. Companies like Rapyd and Visa use stablecoins to instantly settle payments with thousands of merchants globally, eliminating cross-border delays.
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 marketplaces’ operational efficiency.
Stablecoin payments platform
BVNK was founded in 2021 by Jesse Hemson-Struthers, a serial entrepreneur with successful exits to Naspers and Sportradar; Donald Jackson, a seasoned technologist with a background in enterprise systems and blockchain; and Chris Harmse, a chartered financial analyst and former partner at a macro/crypto fund.
BVNK sees a future where stablecoins and all leading fiat currencies are seamlessly interchangeable in real-time. It is building the backbone for global stablecoin and fiat transactions, abstracting complexity and enabling businesses to grow internationally. The company provides stablecoin payments infrastructure, unifying banks and blockchains in a single platform, to accelerate global money movement. It enables businesses to send, receive, convert, and store stablecoins and fiat, underpinned by global licensing and enterprise-grade technology.
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.”
Investors’ views
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 its journey to make instant, borderless payments a reality for businesses everywhere. This is the kind of innovation that defines the future of finance.”
