“It's peak AI bubble. You get billion-dollar valuations on startups that have nothing — five people, no product, no innovation, just recent grads.”
— Ali Ghodsi, CEO & Co-Founder, Databricks
BVNK raised $50M to make global payments faster and easier for businesses.
Backers: Haun Ventures, Coinbase Ventures, and Tiger Global Management.
By the data: BVNK has grown 200% yoy, processing $10B annually for businesses like Deel, Rapyd, and Trust Payments.
Why it Matters: Stablecoins are on track to replace legacy systems like SWIFT, with $24T in transactions this year—three times PayPal’s annual volume. Industry leaders are recognizing stablecoins’ potential to capture 10% of M2 and FX transactions in the U.S. in the coming years.
What they’re saying: Maja Vujinovic, blockchain pioneer & investor:
"Stablecoins have the potential to revolutionize financial services by streamlining complexity for users while shaking up the current system.
The real winners will be those who control the connection to underlying assets—whether bank deposits, U.S. treasuries, or money market funds—or have business models that complement this new financial layer."
What’s Next: BVNK is expanding into the US, opening offices in San Francisco and New York.
Avalanche upgrades its network to Avalanche9000— its biggest network upgrade.
