PANews reported on December 17 that UK stablecoin infrastructure company BVNK successfully raised $50 million in an equity Series B funding round, led by crypto-focused giant Haun Ventures, with participation from Coinbase Ventures and existing investor Tiger Global. According to insiders, following this funding round, BVNK's valuation is approximately $750 million. A BVNK spokesperson declined to comment on the valuation.
According to reports, although BVNK is opening offices in San Francisco and New York and plans to launch services in the U.S. in January, it has been focused on the European and Asian markets. A key component of BVNK's value proposition lies in its licenses and relationships with financial institutions, which help facilitate the flow of funds between different fiat currencies. BVNK holds a virtual asset service provider license in Spain, enabling it to establish partnerships with several major European banks, including Barclays, Banco Bilbao Vizcaya Argentaria (BBVA), Deutsche Bank, and Santander.
In news from May, BVNK completed a $40 million Series A funding round at a valuation of $340 million, led by Tiger Global.