Unifying global fiat and stablecoin payments, stablecoin payments infrastructure provider BVNK has announced a new embedded wallet.
Embedded wallets are not a novelty. They have existed in today’s market for some time but have had limited capabilities to manage stablecoin, crypto and fiat payments in one place. The launch of the new BVNK wallet will create a solution to this friction by providing users with direct access to blockchains and local and international payment schemes, all within a single solution.
BVNK will hold on to or exchange balances and deal with third-party payments through its multi-rail access, all in a single product. Some notable schemes users will have access to include:
- Swift
- ACH
- Fedwire
- SEPA
- FPS
- Solana
- Tron
- Polygon
- Ethereum
- BNB Smartchain
- Bitcoin
- Cardano
Integrating the wallet
Fintechs, crypto apps, PSPs, marketplaces and payroll platforms can embed the multicurrency wallet into their platform via API. This will enable their own customers to store, spend and get paid in stablecoins, USD, GBP, EUR – and exchange between balances automatically or on-demand, 24/7.
With BVNK’s auto-conversion features, businesses don’t need to hold crypto on their balance sheet: stablecoins can be automatically converted to fiat on pay in, or fiat funds converted to stablecoins on payout.
Simon Griffin, chief product officer at BVNK, said: “Stablecoins are redefining how we transfer value around the world, enabling 24/7/365, accelerated global payments. But they’re not perfect for every use case – and moving money between traditional currencies and stablecoins is still challenging. With our embedded wallet, we’re making stablecoin, crypto and fiat payment rails interoperable, to give our customers true payments flexibility.”
Why stablecoins? Why now?
In the last few years, stablecoins have emerged as a new global payment rail for businesses and an alternative to the correspondent banking system. $32trillion stablecoin transactions were processed globally in 2024, with payments use cases estimated to account for $5.62trillion. Stablecoins aim to maintain value by linking to assets like USD but may carry specific risks. These include counterparty failure, redemption issues, changes in backing asset value, FX exposure.
