Stablecoin payments infrastructure firm BVNK is making significant strides as it ventures into the U.S. market. This move comes after a successful Series B round that raised $50 million, marking a crucial milestone in its growth journey.

Transforming Payments with Stablecoin Infrastructure

Building a Global Payment Network

BVNK, a London-based company, has been actively working on developing local banking infrastructure in the U.S. over the past year. By establishing an office in San Francisco and a presence in New York City, they are laying the foundation for a seamless cross-border payment system. As stated by Jesse Hemson-Struthers, CEO of BVNK, "Stablecoins are redefining how money moves across the world — faster, more cost-efficient and with fewer barriers." This new infrastructure aims to make these innovative payment methods accessible to businesses worldwide, enabling them to operate at the speed of today's economy.

With the increasing popularity of stablecoins and their potential to revolutionize cross-border payments, BVNK is at the forefront of this transformation. Their efforts in building out the team and obtaining operational licenses demonstrate their commitment to providing a reliable and efficient payment solution.

Milestones in the Stablecoin Space

This year has witnessed several notable milestones in the stablecoin realm. Global transactions have reached an astonishing $24 trillion, with payments accounting for $5.2 trillion. In November alone, 28.5 million unique stablecoin users sent over $600 million onchain. These figures highlight the growing significance of stablecoins in the financial landscape.

Moreover, companies like Stripe and Visa are integrating stablecoins into their products, reflecting the growing acceptance and recognition of this technology. The regulatory clarity in the U.S. and the European Union also provides a favorable environment for the growth of stablecoin payments.

Advantages of Stablecoin Payments

Traditional cross-border payments have long been plagued by high fees, slow processing times, and opaque intermediaries. Stablecoins offer a compelling alternative by enabling near-instantaneous transfers, significantly reducing costs, and enhancing transparency through blockchain technology.

PYMNTS, in its December 9 report, emphasized the potential of stablecoins in the cross-border payment space. Research by PYMNTS Intelligence has shown that blockchain-based cross-border solutions, especially stablecoins, are being embraced by businesses seeking a more efficient way to transact and expand internationally. This indicates the growing demand for reliable and cost-effective cross-border payment methods.

BVNK's new funding and expansion are part of a broader trend that showcases the increasing momentum of stablecoins as a cross-border payment method. As they continue to build and innovate, they are set to play a significant role in shaping the future of global payments.