Crypto Banking Platform BVNK raises $40M to drive regulatory push

BVNK is a crypto-integration platform that offers banking and payments services to businesses. It has received $40 million in Series B funding.

Tiger Global led the round and featured Coinlist, Coinlist token sale platform and digital asset custodian Anchorage Digital. TrueLayer was an open banking startup.
BVNK launched last October with the aim of appealing to businesses looking to offer crypto services not currently served well by existing payment and settlement providers.
The fund will be used to help the firm, based in London, accelerate its push for regulatory licensing and expand into new markets like the U.S.
BVNK processes $2 billion annually in payments. It aims to expand to serve cross-border business with fast payments and banking crypto and fiat. This will help to reduce the costs and slow processing time of legacy infrastructure, which could hinder businesses’ adoption.
Its API-based platform makes it possible for merchants to integrate cryptocurrency payments into their businesses. It could allow businesses to accept cryptocurrency payments but also receive settlements in fiat. This would be a major breakthrough in institutional and corporate adoption of blockchain.
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