BlockBeats News, May 7th, according to Coindesk, global payment service provider Visa's (V) venture arm 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 BVNK spokesperson confirmed in an email that the transaction has been completed but declined to disclose the investment amount.
The software developed by BVNK allows enterprises to send and receive stablecoins in the global market. The London-based company stated that its annualized 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 multiple states.
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