Payments Giant Visa Invests in Stablecoin Infrastructure Firm BVNK in US Market Expansion

Credit card giant Visa is investing in the stablecoin payments network BVNK as a means of upgrading its business-to-business transactions.In a new company blog post, BVNK chief executive and co-founder Jesse Hemson-Struthers says that Visa is investing an undisclosed amount into the firm as a means of automating and streamlining global stablecoin payments between businesses.“At BVNK, we recognized early that stablecoins would emerge as an instant global payment rail and a viable alternative to the traditional correspondent banking system. That’s why we’ve built our infrastructure from the ground up to automate and orchestrate stablecoin payments at scale, making these new rails accessible to businesses of all sizes.”According to Hemson-Struthers, collaborating with Visa, which he calls the “original payments innovator,” will change how businesses operate digitally and will help the UK-based firm to expand into the US.“What makes me proudest is seeing the real-world impact of our technology.We’re currently processing $12 billion in annualized stablecoin payment volumes, enabling our customers to move money globally with unprecedented speed and efficiency. The momentum continues with our expansion into the US market this year.” As stated by Rubail Birwadker, head of growth products and partnerships at Visa,“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.”In December, BVNK completed a $50 million Series B fundraising round, obtaining funds from prominent venture capitalist firms such as Coinbase Ventures.Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price ActionSurf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.Generated Image: MidjourneyThe post Payments Giant Visa Invests in Stablecoin Infrastructure Firm BVNK in US Market Expansion appeared first on The Daily Hodl.