Visa Invests in London-Based Payment Startup BVNK

Visa has invested in the British startup BVNK, which is developing infrastructure for stablecoin transactions. This was announced by BVNK’s CEO, Jesse Hemson-Struthers.

The startup processes $12 billion in stablecoin transactions annually. The platform has opened offices in New York and San Francisco.

Previously, BVNK applied for licenses in all U.S. states, receiving approval in several.

Hemson-Struthers noted that integrating Visa’s payment network with stablecoins “opens new opportunities for the digital economy.”

“Stablecoins are becoming part of global payments, and Visa intends to remain at the forefront of these changes,” said Rubail Birwadker, a company representative.

The size of the deal has not been disclosed. BVNK confirmed its completion but did not provide details.

According to the FT, global banks and fintech companies have entered a “stablecoin race.”