The fintech Pave Bank has successfully closed a $39 million Series A funding round. This capital injection was led by the venture firm Accel. The goal is to boost its innovative Pave Bank programmable banking solutions, which integrate fiat and crypto services for corporate clients. The news was first reported by the Economic Times.
The round brings the startup’s total funding to approximately $45 million. Besides Accel, the investment saw high-profile participants like Tether Investments, Wintermute, and Quona Capital. Founded in 2023 by industry veterans, Pave Bank aims to redefine corporate treasury. It allows companies to automate financial operations via APIs and smart contracts.
Pave Bank’s proposal addresses a growing need in the digital economy. Companies demand infrastructure that handles both traditional currencies and digital assets seamlessly. This “programmable banking” service represents a milestone in payments automation and treasury management. The fintech currently operates with a Georgian banking license. It also has headquarters in Singapore and an office in London.
Is Traditional Banking Betting Its Future on Blockchain?
Pave Bank’s success is not an isolated event. It reflects a larger trend where traditional finance (TradFi) is investing heavily in blockchain infrastructure. Major institutions are backing blockchain-based payment and settlement platforms. For example, Fnality recently secured $136 million with support from giants like Bank of America and Citi. Likewise, BVNK, a stablecoin infrastructure company, received investment from Citi Ventures, valuing the company at over $750 million.
With this new funding, Pave Bank plans a significant strategic expansion. The company is targeting new key markets for its growth. It will soon seek to establish a presence in the United Arab Emirates and Hong Kong. It also has its sights set on the European Economic Area, solidifying its bridge between crypto and fiat finance.
