Today stablecoin infrastructure startup BVNK announced a collaboration with Worldpay to enable its clients to make payouts using stablecoins. Worldpay provides card acceptance services to more than a million merchants worldwide and processes $2.3 trillion in payments annually.
As part of its offering, Worldpay provides a payouts service enabling merchants to use the money they’ve received to payout staff, contractors or other third parties. While these payments usually involve bank payments, soon there will be an option to use stablecoin payments. A pilot is expected to go live during the second half of 2025.
Worldpay is using BVNK’s embedded wallet system so that Worldpay’s merchants don’t have to hold the stablecoins themselves.
This is not the first time Worldpay has used stablecoins. In 2022 the company started supporting merchants receiving settlement using the USDC stablecoin. Visa has supported settlement similarly for several years. Additionally, Worldpay has also been active in blockchain infrastructure, operating nodes on more than one semi-permissionless blockchain – Korea’s Klaytn (which has since merged forming Kaia) and Hedera.
“With a history of delivering innovative payout solutions, we are excited to meet the rising interest from clients seeking faster, more efficient global payment methods,” said John McNaught, SVP, Head of payouts at Worldpay.
Earlier this month BVNK announced that Visa made an investment. While it did not disclose figures, based on company filings, the amount was €2 million ($2.27m) in March valuing the company at around $625 million. This partnership reflects the broader momentum in stablecoin infrastructure.
Stablecoins are at the peak of their hype cycle, with infrastructure firms such as BVNK attracting significant investment. It follows Stripe’s acquisition of Bridge for $1.1 billion late last year and MoonPay’s purchase of Iron in March. Yesterday OpenFX came out of stealth and announced a $23 million funding led by Accel and an annualized transaction rate of $10 billion.
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