Worldpay and BVNK team up for stablecoin payout services
Stablecoins, digital currencies pegged to traditional fiat currencies, are currently experiencing a surge in popularity, with infrastructure firms like BVNK attracting significant investment. One of the latest developments in this space is Worldpay's partnership with BVNK, which will enable merchants to make payouts using stablecoins.
Worldpay, a leading provider of card acceptance services to over a million merchants worldwide, has been active in blockchain infrastructure for some time. The company operates nodes on more than one semi-permissionless blockchain, including Korea's Klaytn (now Kaia) and Hedera.
In March, Worldpay started supporting merchants receiving settlement using the USDC stablecoin. Now, the company is taking a step further by integrating BVNK's embedded wallet system. This integration will allow Worldpay merchants to pay suppliers globally using stablecoins like USDC without requiring technical knowledge of blockchain or managing crypto wallets.
BVNK recently announced a partnership with Visa, with Visa investing €2 million ($2.27m) in March, valuing BVNK at around $625 million. Visa has also been supportive of stablecoin settlements for several years. The partnership between BVNK and Visa reflects the broader momentum in stablecoin infrastructure.
John McNaught, SVP and Head of payouts at Worldpay, expressed excitement about delivering innovative payout solutions. He believes that this move will enhance Worldpay’s competitive edge by adding a layer of digital asset payment flexibility to its already massive $2.3 trillion annual processing volume for over a million merchants globally.
The pilot for the stablecoin payouts service is expected to go live during the second half of 2025 across more than 180 markets. This integration will not only enable near-instant cross-border settlements that bypass traditional correspondent banking intermediaries, reducing costs and improving speed, but also integrate stablecoin and fiat payment compliance checks under a unified platform. This streamlines operations and risk management for treasury, merchant settlement, and payouts.
Moreover, stablecoin payouts can improve cash flow and expand access to unbanked populations using mobile money platforms like Kenya’s M-Pesa. As the world continues to digitise, the partnership between Worldpay and BVNK is a significant step towards bridging traditional banking rails with emerging blockchain-based payments, supporting financial inclusion and offering merchants new cost-effective payout options without disrupting existing workflows.
Other notable developments in the stablecoin space include Stripe's acquisition of Bridge for $1.1 billion late last year and OpenFX's announcement of a $23 million funding led by Accel and an annualized transaction rate of $10 billion. These developments underscore the growing interest and investment in stablecoin infrastructure.
[1] Coindesk - Worldpay Partners with BVNK to Enable Stablecoin Payouts
[2] Finextra - Worldpay and BVNK Partner to Enable Stablecoin Payouts
[3] Cointelegraph - Worldpay and BVNK Partner to Enable Stablecoin Payouts
[4] CoinDesk - Visa Invests $2 Million in Stablecoin Firm BVNK
- The integration of BVNK's embedded wallet system by Worldpay will allow merchants to make payouts using stablecoins like USDC without managing crypto wallets, offering new cost-effective payout options in the finance sector that leverage blockchain technology.
- The partnership between BVNK and Visa, with Visa investing €2 million in BVNK and supporting stablecoin settlements for several years, reflects the broader momentum in stablecoin infrastructure and technology, underscoring the growing interest and investment in this space.
