Pave Bank raises $39M led by Accel, Tether to expand programmable banking. The Singapore-based digital bank plans to broaden its crypto and fiat offerings for institutional clients, citing growing demand for programmable finance. Fintech Pave Bank has raised $39 million in a Series A funding round led by venture capital firm Accel. The company offers programmable banking solutions for businesses, combining crypto and fiat services. The round included participation from Tether Investments, Wintermute, Quona Capital, Helios Digital Ventures, Yolo Investments, Kazea Capital, Financial Technology, and GC&H Investments, bringing the company's total funding to about $45 million, according to the Economic Times. Founded in 2023 by fintech veterans Simon Vans-Colina, Salim Dhanani, and Dmitry Bocharov, Pave Bank provides institutional and corporate clients with both traditional and programmable banking services, while also facilitating transactions involving digital assets. Programmable banking services allow businesses to automate financial operations such as payments, transfers, and treasury management through application programming interfaces (APIs) or smart contracts built on digital infrastructure. Pave Bank is headquartered in Singapore, with a Georgian banking license and a London office. The startup has plans to expand into the United Arab Emirates, Hong Kong, and the European Economic Area. Traditional finance doubles down on blockchain infrastructure. Major financial institutions continue to back blockchain-based payment and settlement platforms as regulatory clarity improves in key markets such as the US and Europe. In September, blockchain payments company Fnality secured $136 million in a Series C funding round led by Bank of America, Citi, Temasek, KBC Group, WisdomTree, and Tradeweb. The round was also joined by returning investors, including Santander, Barclays, UBS, and Goldman Sachs. On Oct. 9, BVNK, a stablecoin infrastructure company based in London, announced an investment from Citi Ventures, the venture arm of Citigroup. The company's co-founder, Chris Harmse, said the deal valued the company at more than $750 million.

Pave Bank raises $39 million to build the world's first programmable bank. * Pave Bank raised $39 million in a Series A round led by Accel, with participation from Tether Investments, Wintermute, and others. * Funds will be used to expand global operations, strengthen infrastructure, and scale institutional coverage. * The licensed Georgia-based bank offers programmable banking services across both fiat and digital assets. Pave Bank secures $39M to scale programmable banking infrastructure. Pave Bank, a licensed commercial bank headquartered in Georgia, has raised $39 million in a Series A funding round to expand its global programmable banking network. The round was led by Accel, with participation from Tether Investments, Wintermute, Quona Capital, and Helios Digital Ventures. The new capital will be used to grow the bank's regulatory footprint, accelerate product development, and scale its institutional-grade infrastructure across global markets. Pave Bank describes itself as the world's first programmable bank built for the digital assets and AI era. It combines traditional banking oversight with the automation, speed, and intelligence of blockchain-powered finance. "The global financial system is moving towards regulated on-chain finance," said Salim Dhanani, Pave Bank's co-founder and CEO. "Institutions need a trusted bridge between the old and the new. We have built a multi-asset bank that merges traditional stability with digital automation." Banking for both fiat and digital assets. Pave Bank offers multi-asset accounts that allow businesses to manage fiat currencies and digital assets from one platform. The bank supports SWIFT, ACH, and its own instant-settlement network, enabling continuous access to funds worldwide. Its programmable banking tools give companies the ability to automate treasury operations, settlements, and asset management through APIs and integrations. This approach helps reduce dependency on intermediaries and allows real-time control of financial assets. Businesses using Pave Bank can also streamline cross-border transactions, manage stablecoin liquidity, and handle tokenised assets directly within the same account. Tether Investments, one of the investors in the round, has expanded its investment portfolio beyond stablecoins to include payment infrastructure, renewable energy, Bitcoin, AI, and tokenisation. Its participation signals growing institutional interest in regulated banking solutions for the digital economy. The shift toward regulated on-chain finance. The funding arrives at a time when financial institutions are shifting toward on-chain finance. A need for a regulated digital systems that offer transparency, programmability, and global reach. Pave Bank's programmable architecture allows smart execution of financial workflows such as automated payments, settlements, and compliance checks. This makes it possible for institutions to build complex financial operations without relying on legacy intermediaries. "Pave's programmable, full-reserve approach combines the best of traditional banking and digital assets," said Ganesh Rengaswamy, Managing Partner at Quona Capital. "It has the potential to catalyse stablecoin adoption and deepen financial inclusion across markets." Accel, the lead investor, said the team's expertise in both traditional banking and blockchain positions Pave Bank to redefine how institutions interact with digital assets. Why programmable banking matters. Traditional banks are still largely built around manual and siloed systems. Pave Bank's vision is to make banking programmable, interoperable, and transparent. Allowing data and money to flow together across fiat and blockchain networks. This model enables new forms of financial automation. Businesses can, for example, trigger settlements based on smart contract conditions, execute treasury movements instantly, or integrate tokenised assets into balance sheets in real time. The bank's full-reserve model ensures that all customer deposits are fully backed by real assets, addressing trust and compliance concerns often associated with digital finance. By merging AI, blockchain, and compliance-first infrastructure, Pave Bank aims to serve the growing number of businesses operating across both traditional and digital economies. Expanding institutional coverage. With its latest funding, Pave Bank plans to broaden its regulatory reach, build out developer APIs, and expand client coverage across major global financial hubs. The company's roadmap includes enhancing support for stablecoins, tokenised assets, and real-time settlements, while also building tools for AI-powered financial management. Pave Bank also aims to establish partnerships with fintechs, payment networks, and digital asset institutions that are seeking compliant access to blockchain finance. According to the team, its infrastructure is already being used by businesses that operate cross-border, managing both traditional and crypto assets in a unified way. Bridging the old and the new. The rise of programmable banking signals a new phase for institutional finance. By integrating real-time payments, blockchain automation, and global compliance, Pave Bank aims to serve as the trusted bridge between traditional systems and the digital economy. "The world is entering a new era of programmable finance," Dhanani said. "We're helping institutions move forward with confidence, stability, and innovation." To stay updated on crypto venture capital funding and market trends, visit its venture capital news section for more insights. Clinton Nwachukwu is a crypto and finance writer with an MBA in Artificial Intelligence and 6+ years of experience creating content for leading global brands. He turns complex topics into clear, actionable insights for readers worldwide. VentureBurn is a media platform covering the latest in cryptocurrency, artificial intelligence, venture capital, and the startup ecosystem. Opinions expressed on VentureBurn are for informational purposes only and do not constitute investment advice. Before making any high-risk investments in digital assets or emerging technologies, readers should conduct their own due diligence. All transactions and financial decisions are made at your own risk, and any losses incurred are solely your responsibility. VentureBurn does not endorse or recommend the buying or selling of any digital assets and is not a licensed investment advisor. Please note that VentureBurn may participate in affiliate marketing programs.

Pave Bank raises $39 million to scale world's first programmable bank built for digital assets and AI era. Pave Bank announces fundraising led by Accel to expand its corporate and institutional bank offering that unifies traditional finance with regulated digital assets. Singapore / London, UK / Tbilisi, Georgia - October 23, 2025; The future of finance is shifting on-chain. As that shift accelerates, the world's financial system is being rebuilt around tokenisation, the programmability of money and assets, along with a focus on regulation, risk and compliance. Pave Bank, a fully licensed commercial bank built for this new financial architecture, today announced it has raised over $39 million in funding led by Accel, with participation from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments. The round brings the company's total funding to more than $44 million and positions Pave Bank to expand its regulatory footprint, accelerate product development, continue to build institutional grade infrastructure and scale its client coverage across global markets. Pave Bank was founded on two core ideas: that the future of money is programmable, and that businesses need a regulated, bank-grade counterparty capable of operating seamlessly across both traditional and digital asset rails. Today, the company offers a single platform that unifies commercial banking services - deposit accounts, broad payment coverage, deep FX liquidity, payment card issuance and corporate treasury management - with institutional-grade digital asset management, an instant settlement network and an OTC trading desk. Instead of managing multiple providers for fiat banking, custody, and liquidity, clients can operate across both systems under one regulatory framework, one compliance standard, and one interface. "The global financial system is moving towards regulated on-chain finance, and institutions need a trusted bridge between the old and the new," said Salim Dhanani, Co-Founder and CEO of Pave Bank. "We have built a mulit-asset bank that merges the stability and prudential oversight of traditional finance with the automation, speed, and intelligence of digital assets. This is about redefining how money moves safely, transparently, and automatically across the world's financial systems." Businesses using Pave Bank can manage both fiat and digital assets in real time, automate treasury operations, and reduce reliance on intermediaries. An exchange or market maker can manage both digital assets, fiat and fixed income treasury products in one place, and at the same time, deal with their counterparties using the Pave Network - enhancing operational liquidity and mitigating operational risk. Corporates exploring using stablecoins in their operations can unify digital assets and fiat corporate treasuries with regulatory clarity and in a secure manner - improving speed, control, and cost efficiency. Since launching, Pave Bank has focused on building a sustainable, technology-driven operating model rather than chasing top-line growth. The company achieved profitability in seven of its first nine months of operation - a rare milestone for a newly licensed bank - by leveraging automation and AI across software engineering, compliance, operations, and treasury functions. With a team of just over fifty people, the bank expects to continue to scale intelligently while maintaining profitability along with a core focus on risk and compliance. "The companies we serve are large, sophisticated corporations and institutions operating across markets," Salim Dhanani added. "They expect their bank to be as fast and adaptive as the technology companies they partner with, but with the security, compliance, and oversight of a regulated financial institution. That's the gap we're closing." Pave Bank's backers share this conviction. "As digital assets become an integral part of the global financial ecosystem, there is a strong need for a well regulated, full reserve approach to banking at the intersection of fiat and digital assets. Pave Bank is at the forefront of this fundamental shift in how financial infrastructure operates and we are excited to partner with them," said Rachit Parekh, Partner at Accel." "By powering mainstream fintechs and digital platforms through its programmable banking infrastructure, Pave is leading the new age transformation in financial services and enhancing the experience for end-users." said Ganesh Rengaswamy, Quona Capital. "Pave's programmable, full-reserve approach combines the best of traditional banking and digital assets and has the potential to catalyze widespread adoption of stablecoins, deepening financial inclusion across markets. It's an ambitious vision grounded in real-world execution." The financing reflects growing institutional demand for a new kind of financial institution - one that can manage regulated digital assets, from stablecoins to bitcoin, alongside everything that is expected from a commercial bank, provide instant settlement and programmable flows, and have prudential oversight. Pave Bank has been building within regulatory frameworks for digital assets from day one, and as these regulations mature and harmonize, Pave Bank is working directly with regulators to ensure compliance and interoperability across jurisdictions. Looking ahead, Pave Bank plans to expand its licensing coverage, deepen its programmable treasury and institutional financial products, and integrate with major financial and digital asset ecosystems. The long-term vision is to become the trusted corporate and institutional global financial institution -the place where the traditional and digital economies finally operate as one. About Pave Bank. Pave Bank is a fully regulated programmable commercial bank built for the modern economy. We enable corporates and institutions to run fiat and regulated digital assets side by side - with an instant settlement network, stablecoin and digital asset management, programmable money flows, comprehensive payment solutions and corporate treasury management. Our mission is to make money move safely, intelligently, and automatically across the world's financial systems. Pave Bank, with a Singaporean holding company, holds a banking license issued by the National Bank of Georgia and a bank representative office in London, United Kingdom. Pave Bank is in the process of expanding its presence globally with offices in the United Arab Emirates, the United States of America, Hong Kong and within the European Economic Area. About Accel. Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Browserstack, Bumble, CrowdStrike, Facebook, FalconX, Freshworks, Flipkart, Qualtrics, Scale, Segment, Slack, Spotify, Swiggy, and UiPath are among the companies Accel has backed over the past 40+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or @Accel on X. About Tether Investments. Tether Investments is the dedicated investment arm of Tether, the issuer of the world's largest stablecoin. With global reach, Tether Investments deploys capital from Tether's profits to back pioneering founders and companies at the intersection of technology, infrastructure and real-world utility. From frontier markets to advanced digital ecosystems, Tether Investments partners with teams building the platforms, protocols and innovations that shape the future of finance and commerce. For more, visit www.tether.io or follow @Tether_to on X. About Quona Capital. Quona Capital is a leading global venture capital firm dedicated to investing in innovative technology companies that drive financial inclusion and economic opportunity in emerging markets. With a focus on Africa, the Middle East, Latin America, India, and Southeast Asia, Quona partners with visionary entrepreneurs building scalable solutions for consumers and SMEs. Our team brings deep fintech expertise and hands-on experience across both emerging and developed markets, backing businesses that drive financial inclusion while delivering strong financial returns. Learn more at www.quona.com.