Visa strategic investment in blockchain payment company BVNK

ChainCatcher news, according to Coindesk, the venture capital arm of global payment service provider Visa (V) has made a strategic investment in the startup BVNK, which is building a stablecoin-based payment infrastructure. This move reflects the trend of traditional financial companies entering the blockchain-driven currency flow. A spokesperson for BVNK confirmed in an email that the deal has been completed but declined to disclose the size of the investment.

The software developed by BVNK allows businesses to send and receive stablecoins in global markets. The London-based company stated that its annual stablecoin transaction volume has reached $12 billion and has recently entered the U.S. market, with offices in New York and San Francisco. The company has applied for licenses in all U.S. states and has received approvals in several states.