Visa strategically invests in blockchain payment company BVNK, doubling its bet on stablecoins

BlockBeats News: On May 7th, according to Coindesk, the venture capital department of global payment service provider Visa (V) made a strategic investment in BVNK, a startup that builds 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 transaction has been completed, but declined to disclose the size of the investment. The software developed by BVNK allows enterprises to send and receive stablecoins in the global market. This London based company stated that its annualized stablecoin trading volume has reached $12 billion and has recently entered the US market with offices in New York and San Francisco. The company has applied for licenses in all states of the United States and has been approved in multiple states.