365Crypto
$39M Boost for Programmable Banking
Pave Bank, a digital bank based in Singapore, has raised $39 million in a Series A round led by Accel and joined by Tether Investments. The fintech startup offers programmable banking services that blend traditional finance with crypto for institutions.
Big Names Back the Vision
Other investors include Wintermute, Quona Capital, Helios Digital Ventures, Yolo Investments, Kazea Capital, Financial Technology, and GC&H Investments. With this round, Pave Bank’s total funding hits $45 million.
Smart Banking for the Digital Era
Founded in 2023 by fintech veterans Simon Vans-Colina, Salim Dhanani, and Dmitry Bocharov, Pave Bank lets businesses automate payments, transfers, and treasury operations using APIs or blockchain smart contracts.
(APIs, or Application Programming Interfaces, allow different software systems to communicate automatically.)
Expanding Global Reach
The company is headquartered in Singapore, holds a Georgian banking license, and operates from London. It plans expansion into the UAE, Hong Kong, and the European Economic Area, aiming to make programmable finance a standard tool for corporate banking.
Traditional Banks Join the Blockchain Wave
Major banks are also jumping on blockchain rails. In September, Fnality raised $136 million from Bank of America, Citi, and Temasek for its blockchain settlement network. And just this month, Citi Ventures invested in BVNK, valuing the stablecoin infrastructure firm at over $750 million.
