Stablecoin infrastructure platform BVNK has raised $50 million in Sequence B funding because it seeks to broaden its U.S. operations.
Fashioned in late 2021, BVNK raised $40 million in Sequence A funding the next Could and gained registration in Spain just a few months later.
For the previous yr, the London-based firm has been increasing within the U.S., opening an workplace in San Francisco, constructing a workforce and making use of for operational licenses.
BVNK has utilized for licenses in all U.S. states, securing approval in a number of, together with Alabama, Arizona, Delaware, Florida, Michigan and New Hampshire, the corporate instructed CoinDesk in an e-mail.
The newest funding spherical was led by Haun Ventures and included contributions from Coinbase Ventures and Tiger World, BVNK mentioned on Tuesday.
The corporate goals to assist companies incorporate stablecoin funds into their processes, reminiscent of paying contractors worldwide, prompt settlement with retailers and sending payouts with out delays and exchange-rate dangers.
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