Stablecoin infrastructure provider BVNK has been selected by TransferMate as its stablecoin partner, enabling the Irish fintech to integrate stablecoin capabilities across its global B2B payments network for the first time. The deal grants BVNK access to one of the largest regulated payments infrastructures in fintech, while cementing its role in the race to build enterprise-grade stablecoin rails.
BVNK, founded in 2021, focuses on enterprise stablecoin payments with embedded wallets, payment rails, and settlement tools. It has reported annualized payment volume surging from $12 billion to roughly $30 billion, reflecting rapid adoption. TransferMate operates with over 100 licenses across 93 jurisdictions, serving sectors like payroll, ERP, e-commerce, procurement, and education.
The integration will allow TransferMate's customers to use stablecoins for cross-border flows without building their own crypto stack. Notably, the partnership targets regions with high frictions such as Africa and Latin America, where traditional cross-border payments remain costly. It aims to simplify tuition payments, global payroll, and B2B transactions by embedding stablecoin settlement into existing workflows.
This move aligns with a broader trend of stablecoins evolving from crypto trading tools to mainstream financial infrastructure. The market now exceeds $230 billion in market cap, with trillions in annual transaction volume. Large players like Stripe, PayPal, Visa, and Mastercard have made significant stablecoin moves, and reports earlier this year indicated Mastercard was pursuing an acquisition of BVNK in a deal potentially valued at up to $1.8 billion. BVNK’s investor base — including Haun Ventures, Coinbase Ventures, and Tiger Global — underscores the growing overlap between traditional and digital asset infrastructure.
The partnership was announced at Money 20/20, with BVNK highlighting that the integration covers payroll, procurement, ERP, e-commerce, and education. It marks another step in the shift toward stablecoins as backend settlement rails, often invisible to end users, rather than speculative assets.
