BVNK has closed a $50 million Series B funding round led by London-based stablecoin infrastructure firm Haun Ventures. The investment will support the company’s plans to expand operations in San Francisco and New York.

Participants included major names such as Coinbase Ventures, Scribble Ventures, and DRW VC. BVNK’s US offices aim to develop local banking infrastructure and work on operational licenses.

The company has grown by 200% with an annual payment volume of more than $10 billion. How will these developments impact the role of stablecoins in global financial services? We welcome your comments.