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BVNK, a London-based firm that helps payment service providers (PSPs) use stablecoins, is working with Chinese payments company LianLian and its network of merchants in over 100 countries.
The BVNK integration automatically converts merchant stablecoin deposits to USD, which LianLian Global routes through its global network, the companies said on Wednesday.
Stablecoins are a fast-growing segment of the payments world, with various estimates about how large this market will become in the coming years, ranging from $1.6 trillion to $3.7 trillion by 2030.
BVNK, which raised $50 million of funding late last year, processes over $12 billion of stablecoin transactions annually and works with payments giants like Worldpay and Visa. LianLian, a large Asia PSP working with 130 currencies, said it was using Ripple’s cross-border payments technology back in 2022.
“Through this partnership, LianLian Global’s merchants can transform idle digital assets into instant cross-border payment fuel,” said BVNK CEO Jesse Hemson-Struthers in a statement. “Together, we’re removing technical barriers so businesses worldwide can access these high-speed payment rails and move their money faster than ever before.”
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