{"id":"bvnk","title":"BVNK","content":"**BVNK** is a global financial technology company that provides stablecoin-native payments infrastructure for businesses. The platform is designed to facilitate cross-border transactions and on-chain settlement by enabling clients to move value between fiat currencies and stablecoins. [\\[1\\]](#cite-id-x3bDypmS4g) [\\[8\\]](#cite-id-event-received-investment-from-citi-ventures-link)\n\n## Overview\n\nBVNK was established to address the inherent inefficiencies within traditional cross-border payment systems, such as high costs, slow settlement times, and limited operating hours. The company's core technology functions as a payments rail that leverages the properties of stablecoins—digital assets pegged to [stable](https://iq.wiki/wiki/stable) currencies like the U.S. dollar—to offer near-instant, low-cost, and 24/7 global transaction capabilities. The platform serves as a bridge between the traditional financial system and the digital asset economy, allowing businesses to send and receive payments internationally without the delays associated with correspondent banking networks. [\\[3\\]](#cite-id-mZxhK6wwVS) [\\[10\\]](#cite-id-5lwcoTiTV5)\n\nThe company provides what it describes as a \"full-stack solution,\" offering enterprise-grade infrastructure that includes tools for security, compliance, and liquidity management. This enables clients, which range from payment service providers (PSPs) and digital-only banks to large enterprises, to integrate [stablecoin](https://iq.wiki/wiki/stablecoin) functionality into their existing operations or launch new financial products. By managing the complexities of fiat-to-stablecoin conversions, wallet infrastructure, and regulatory compliance, BVNK aims to lower the barrier to entry for businesses seeking to adopt digital assets for payments and settlement. The company is co-headquartered in London, United Kingdom, and San Francisco, USA, reflecting its focus on both European and North American markets. [\\[1\\]](#cite-id-x3bDypmS4g) [\\[8\\]](#cite-id-event-received-investment-from-citi-ventures-link)\n\n## History\n\nBVNK's growth has been marked by a significant increase in transaction volume and strategic funding from prominent investors. Prior to October 2025, the company completed a funding round that established its valuation at $750 million, with backing from notable venture capital firms including Tiger Global and [Coinbase](https://iq.wiki/wiki/coinbase). This early support signaled confidence in its model of providing [stablecoin](https://iq.wiki/wiki/stablecoin) infrastructure for enterprise use cases. The company's platform demonstrated rapid adoption, with its annualized payment volume growing from $10 billion in December 2024 to $12 billion by May 2025. This growth accelerated significantly in the latter half of the year, reaching an annualized volume of over $20 billion by October 2025. [\\[9\\]](#cite-id-event-reached-$20b-annualized-payment-volume-link) [\\[3\\]](#cite-id-mZxhK6wwVS) [\\[11\\]](#cite-id-UsbK9S1IiG)\n\nA pivotal period for the company was the 18 months leading up to October 2025, during which the United States became its fastest-growing market. Co-founder Chris Harmse attributed this expansion to increased regulatory clarity following the passage of the \"Guarding Economic Nontraditional and Unhosted Systems (GENIUS) Act\" in July 2025, which created a federal framework for payment stablecoins. This legislation spurred a surge in institutional demand for compliant digital asset infrastructure. On October 9, 2025, BVNK announced it had received a strategic investment from Citi Ventures, the venture capital arm of Citigroup. While the investment amount was not disclosed, Harmse confirmed that the deal raised BVNK's valuation above its previous $750 million mark. During this period of rapid expansion, the company reported that it had \"dipped in and out of profitability\" while investing in growth, with a stated expectation to achieve sustained profitability in 2026. [\\[8\\]](#cite-id-event-received-investment-from-citi-ventures-link) [\\[5\\]](#cite-id-FKPhJiDENq)\n\n## Products and Services\n\nBVNK offers two flexible models designed to cater to businesses at different stages of their [stablecoin](https://iq.wiki/wiki/stablecoin) adoption journey: a turnkey managed solution and a self-managed infrastructure for in-house operations. [\\[10\\]](#cite-id-5lwcoTiTV5)\n\n### Managed Payments\n\nThe Managed Payments solution is a turnkey offering that allows businesses to launch [stablecoin](https://iq.wiki/wiki/stablecoin) capabilities using BVNK's existing licensing, custody, and compliance frameworks. This model is designed for companies that want to quickly integrate digital asset payments without building their own infrastructure from the ground up. The core functions include:\n\n* **Send:** Pay contractors, suppliers, and partners globally in either stablecoins or fiat currencies.\n* **Receive:** Accept [stablecoin](https://iq.wiki/wiki/stablecoin) payments with minimal code, with the option to automatically convert funds to fiat.\n* **Convert:** Move between different currencies and manage on-ramps and off-ramps within a single platform.\n* **Store:** Hold funds in stablecoin-linked wallets that provide access to traditional payment [rails](https://iq.wiki/wiki/rails) like ACH, SEPA, Fedwire, and Swift.\n\nThis solution is offered through two delivery models: **Embedded**, which allows clients to launch [stablecoin](https://iq.wiki/wiki/stablecoin) products for their own customers under their brand while BVNK handles compliance and payment execution, and **Direct**, for businesses using [stablecoin](https://iq.wiki/wiki/stablecoin) payments for their own operational needs. [\\[10\\]](#cite-id-5lwcoTiTV5)\n\n### Self-Managed Payments\n\nFor businesses that require more control or wish to use their own licenses and partners, BVNK offers a self-managed solution called Layer1. This product allows companies to run their own [stablecoin](https://iq.wiki/wiki/stablecoin) payments network in-house by deploying BVNK's core infrastructure. Clients can plug in their own licenses, custodian, and liquidity partners, or use BVNK's where it fits their needs. This model is tailored for larger enterprises that want to orchestrate global payments, manage merchant transactions, and handle treasury operations with greater autonomy. [\\[10\\]](#cite-id-5lwcoTiTV5)\n\n## Technology and Infrastructure\n\nBVNK's platform is a global [stablecoin](https://iq.wiki/wiki/stablecoin) infrastructure designed to provide enterprise-level payment and settlement services. It functions as a payments rail that manages the conversion, transfer, and custody of stablecoins and fiat currencies, enabling businesses to execute cross-border transactions with greater speed and efficiency than traditional banking systems. The technology is offered as a \"full-stack solution,\" meaning it provides all the necessary components for businesses to integrate [stablecoin](https://iq.wiki/wiki/stablecoin) payments, including [APIs](https://iq.wiki/wiki/apis), compliance frameworks, and secure wallet infrastructure. [\\[1\\]](#cite-id-x3bDypmS4g)\n\nThe infrastructure is described as \"enterprise-grade,\" emphasizing its focus on security, scalability, and regulatory compliance to meet the standards of large financial institutions and corporations. Key components of the platform include:\n\n* **Fiat and Stablecoin Conversion:** The system automates the process of converting traditional currencies into stablecoins for transfer and converting them back into fiat upon receipt, abstracting the complexity from the end-user.\n* **Wallet Solutions:** BVNK provides secure wallet technology for businesses to hold and manage their digital asset balances.\n* **Compliance and Security:** The platform incorporates enterprise-ready security protocols and is built to adhere to global licensing requirements. BVNK is ISO 27001:2022 and SOC 2 Type II certified. Its regulatory footprint includes a Virtual Asset Service Provider (VASP) registration in Spain, Electronic Money Institution (EMI) licenses in Malta and the UK, and full U.S. coverage as a registered Money Services Business (MSB) with Money Transmitter Licenses (MTLs) in various states. [\\[10\\]](#cite-id-5lwcoTiTV5)\n* **Banking Partnerships:** The infrastructure is supported by partnerships with over 10 banking partners, including Tier 1 institutions such as Barclays, BBVA, and Deutsche Bank, ensuring reliable on-ramps and off-ramps between the digital asset ecosystem and the traditional financial system. [\\[10\\]](#cite-id-5lwcoTiTV5)\n\nThis technological [foundation](https://iq.wiki/wiki/foundation) allows clients to use stablecoins for a variety of financial operations without needing to build their own specialized [blockchain](https://iq.wiki/wiki/blockchain) infrastructure. [\\[9\\]](#cite-id-event-reached-$20b-annualized-payment-volume-link) [\\[3\\]](#cite-id-mZxhK6wwVS)\n\n## Use Cases and Adoption\n\nBVNK's primary use case is facilitating cross-border payments for enterprises, allowing them to pay international suppliers, contractors, and merchants efficiently. As of October 2025, the platform processes over $20 billion in transaction volume annually, serving a client [base](https://iq.wiki/wiki/base) of major payment industry leaders. The company's target audience includes payment service providers (PSPs), large enterprises, and digital-only banks (neobanks) that are increasingly looking to integrate stablecoins into core services like checking accounts and international remittances. [\\[5\\]](#cite-id-FKPhJiDENq) [\\[11\\]](#cite-id-UsbK9S1IiG)\n\nNotable clients using BVNK's infrastructure include:\n\n* **Worldpay:** A leading global payment processor that leverages BVNK for [stablecoin](https://iq.wiki/wiki/stablecoin) settlement capabilities. John McNaught, Head of Payouts at Worldpay, stated, \"Our [stablecoin](https://iq.wiki/wiki/stablecoin) payout service allows clients [across](https://iq.wiki/wiki/across) all Worldpay's verticals... to make streamlined payouts without handling digital assets themselves.\"\n* **Flywire:** A company specializing in global payment and receivables solutions for specific industries.\n* **dLocal:** A technology-first payments platform enabling global merchants to connect with emerging market consumers. John O’Brien, CRO at dLocal, noted, \"By integrating BVNK’s [stablecoin](https://iq.wiki/wiki/stablecoin) capabilities, we can offer even faster, borderless payments - without compromising compliance or control.”\n* **Deel:** A global payroll and compliance platform that uses stablecoins for efficient international contractor payments. Ryan Freeman, Head of Partnerships at Deel, commented, \"Since launching with BVNK, we’ve seen freelancers opting to be paid in stablecoins in more than 100 countries.”\n\nThese partnerships demonstrate the platform's adoption by established financial technology companies that require robust and compliant infrastructure to handle large volumes of cross-border transactions. BVNK's services are applied [across](https://iq.wiki/wiki/across) several key industries, including Fintech, Marketplaces, Global Payroll, Trading, Gaming, and Digital Assets. [\\[1\\]](#cite-id-x3bDypmS4g) [\\[9\\]](#cite-id-event-reached-$20b-annualized-payment-volume-link) [\\[10\\]](#cite-id-5lwcoTiTV5)\n\n## Team\n\nBVNK was founded by a team with experience in financial technology and digital assets. The key figures include:\n\n* **Jesse Hemson-Struthers:** Co-Founder and Chief Executive Officer (CEO)\n* **Chris Harmse:** Co-Founder\n* **Donald Jackson:** Co-Founder and Chief Technology Officer (CTO)\n\nJesse Hemson-Struthers serves as the company's public-facing leader, while Chris Harmse has provided commentary on the company's market growth and financial strategy. [\\[1\\]](#cite-id-x3bDypmS4g) [\\[3\\]](#cite-id-mZxhK6wwVS) [\\[11\\]](#cite-id-UsbK9S1IiG)\n\n## Funding and Investors\n\nBVNK has secured funding from a mix of prominent venture capital firms in both the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) and traditional finance sectors. Its valuation surpassed $750 million following the strategic investment from Citi Ventures in October 2025. The company's investor [base](https://iq.wiki/wiki/base) reflects a growing [convergence](https://iq.wiki/wiki/convergence) of interest in [stablecoin](https://iq.wiki/wiki/stablecoin) technology from established financial players and crypto-native funds. [\\[8\\]](#cite-id-event-received-investment-from-citi-ventures-link)\n\nKey investors in BVNK include:\n\n* **Citi Ventures:** The venture capital arm of Citigroup, which made a strategic investment in October 2025.\n* **Visa:** A global payments technology company.\n* **Tiger Global:** A global investment firm focused on technology.\n* **Coinbase:** A leading [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange and ecosystem investor.\n* **Haun Ventures:** A venture capital firm focused on [web3](https://iq.wiki/wiki/web3) and crypto projects.\n\nThe backing from institutions like Citi and Visa provides BVNK with strategic partnerships and validation as it seeks to bridge the gap between traditional finance and digital assets. [\\[1\\]](#cite-id-x3bDypmS4g) [\\[11\\]](#cite-id-UsbK9S1IiG)\n\n## Market Context and Competitors\n\nBVNK operates in the highly competitive market for cross-border payments and [stablecoin](https://iq.wiki/wiki/stablecoin) infrastructure. The investment from Citi Ventures occurred within a broader market trend of major U.S. banks, including JPMorgan and Bank of America, exploring and investing in digital asset technology for settlement and payments. This trend was significantly influenced by the passage of the [GENIUS Act](https://iq.wiki/wiki/genius-act) in the U.S., which provided a clearer regulatory pathway for [stablecoin](https://iq.wiki/wiki/stablecoin) issuers and service providers, thereby encouraging institutional adoption. [\\[5\\]](#cite-id-FKPhJiDENq)\n\nIn this space, BVNK competes with other companies that offer crypto-based payment solutions. Key competitors include:\n\n* **Ripple:** A company that uses its native digital asset, [XRP](https://iq.wiki/wiki/xrp), and other solutions to facilitate cross-border payments for financial institutions.\n* **Alchemy Pay:** A payment solutions provider that connects crypto and global fiat economies for consumers, merchants, developers, and institutions.\n* **TripleA:** A licensed crypto payment gateway that enables businesses to accept [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) payments.\n\nBVNK differentiates itself by focusing specifically on enterprise-grade [stablecoin](https://iq.wiki/wiki/stablecoin) infrastructure and providing a full-stack solution tailored to the needs of large payment providers and corporations. [\\[8\\]](#cite-id-event-received-investment-from-citi-ventures-link) [\\[3\\]](#cite-id-mZxhK6wwVS)\n\n> \"You are seeing with the \\[\\[GENIUS Act] - (https://iq.wiki/wiki/genius-act)] - (https://iq.wiki/wiki/genius-act) coming through, and regulatory clarity, an explosion of demand for building on top of \\[\\[stablecoin] - (https://iq.wiki/wiki/stablecoin)] - (https://iq.wiki/wiki/stablecoin) infrastructure.\"\n> — Chris Harmse, Co-Founder of BVNK [\\[3\\]](#cite-id-mZxhK6wwVS)\n\n> \"Stablecoins are seeing increased interest in use for settlement of on-chain and crypto asset transactions. We were impressed by BVNK’s enterprise-grade infrastructure, and their proven track record.\"\n> — Arvind Purushotham, Head of Citi Ventures [\\[9\\]](#cite-id-event-reached-$20b-annualized-payment-volume-link) [\\[11\\]](#cite-id-UsbK9S1IiG)","summary":"Fintech BVNK provides stablecoin payments infrastructure to enterprises like Worldpay, processing over $20B in cross-border payments annually.","images":[{"id":"QmTwuqYSqSMmfsALh6cETsTRMYbNrdfJBpqAHDVwRJMQKL","type":"image/jpeg, image/png"}],"categories":[{"id":"organizations","title":"organizations"}],"tags":[{"id":"Stablecoins"},{"id":"Organizations"}],"media":[],"metadata":[{"id":"website","value":"https://bvnk.com/"},{"id":"twitter_profile","value":"https://x.com/BVNKFinance"},{"id":"linkedin_profile","value":"https://www.linkedin.com/company/bvnk/"},{"id":"youtube_profile","value":"https://www.youtube.com/channel/UCjcM0r2lN-Il-mPMm4gA2zg"},{"id":"references","value":"[{\"id\":\"x3bDypmS4g\",\"url\":\"https://www.businesswire.com/news/home/20251009562874/en/Citi-Ventures-Invests-in-BVNK-to-Power-the-Next-Generation-of-Financial-Infrastructure\",\"description\":\"Official press release on Citi investment\",\"timestamp\":1760028969427},{\"id\":\"KYzia2jdm5\",\"url\":\"https://blockworks.co/news/citi-invests-in-stablecoin-startup-bvnk-as-banks-deepen-crypto-ties\",\"description\":\"Blockworks analysis of BVNK and Citi\",\"timestamp\":1760028969427},{\"id\":\"mZxhK6wwVS\",\"url\":\"https://www.cnbc.com/2025/10/09/biti-bvnk-stablecoin-banks-crypto.html\",\"description\":\"CNBC report on BVNK's business model\",\"timestamp\":1760028969427},{\"id\":\"0QFe1upX6O\",\"url\":\"https://www.ledgerinsights.com/citi-ventures-invests-in-stablecoin-platform-bvnk/\",\"description\":\"Ledger Insights report on payment volume growth\",\"timestamp\":1760028969427},{\"id\":\"FKPhJiDENq\",\"url\":\"https://www.theblock.co/post/373970/citi-invests-in-stablecoin-firm-bvnk-as-banks-deepen-push-into-onchain-settlement\",\"description\":\"The Block report on the GENIUS Act's impact\",\"timestamp\":1760028969427},{\"id\":\"event-reached-$10b-annualized-payment-volume-link\",\"description\":\"Event link\",\"url\":\"https://www.ledgerinsights.com/citi-ventures-invests-in-stablecoin-platform-bvnk/\",\"timestamp\":1760028969915},{\"id\":\"event-reached-$12b-annualized-payment-volume-link\",\"description\":\"Event link\",\"url\":\"https://www.ledgerinsights.com/citi-ventures-invests-in-stablecoin-platform-bvnk/\",\"timestamp\":1760028969916},{\"id\":\"event-received-investment-from-citi-ventures-link\",\"description\":\"Event link\",\"url\":\"https://blockworks.co/news/citi-invests-in-stablecoin-startup-bvnk-as-banks-deepen-crypto-ties\",\"timestamp\":1760028969916},{\"id\":\"event-reached-$20b-annualized-payment-volume-link\",\"description\":\"Event link\",\"url\":\"https://www.ledgerinsights.com/citi-ventures-invests-in-stablecoin-platform-bvnk/\",\"timestamp\":1760028969916},{\"id\":\"5lwcoTiTV5\",\"url\":\"https://bvnk.com/\",\"description\":\"BVNK official website\",\"timestamp\":1760039081871},{\"id\":\"UsbK9S1IiG\",\"url\":\"https://bvnk.com/blog/citi-ventures-backs-bvnk\",\"description\":\"Citi Ventures investment announcement\",\"timestamp\":1760039081871}]"},{"id":"commit-message","value":"\"docs: Create wiki article for BVNK, a stablecoin payments infrastructure platform.\""}],"events":[{"id":"5b111c76-9587-4210-8ab6-99c96ccf3626","date":"2024-12","title":"Reached $10B Annualized Payment Volume","type":"DEFAULT","description":"BVNK's annualized payment volume reached $10 billion, indicating significant growth in its stablecoin payment infrastructure.","link":"https://www.ledgerinsights.com/citi-ventures-invests-in-stablecoin-platform-bvnk/","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"64a1d045-4510-434f-8c7f-30c19f7a321d","date":"2025-05","title":"Reached $12B Annualized Payment Volume","type":"DEFAULT","description":"The company's annualized payment volume grew to $12 billion, continuing its expansion in the enterprise payments sector.","link":"https://www.ledgerinsights.com/citi-ventures-invests-in-stablecoin-platform-bvnk/","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"890916a1-d7f2-4993-9912-2fb02591c12c","date":"2025-10","title":"Received Investment from Citi 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