Pave Completes $39 Million Funding Round To Expand Its Operations

Pave Bank has announced the completion of a funding round, raising $39 million for expansion. The funding round was led by Accel with participation from GC&H Investments, Tether Investments, Kazea Fund, Yolo Investments, Financial Technology Partners, Helios Digital Ventures, Wintermute, and Quona Capital.

Pave Bank was funded by Chief Executive Officer, Salim Dhanani. He previously worked with the World Bank before joining Carta Worldwide. Later, he co-founded a payments business and fintech lender BigPay, alongside Simon Vans-Colina.

Pave has attracted investor interest and venture capital due to its unique services. The bank offers a single platform that unifies commercial banking services, including FX liquidity, broad payment coverage, corporate treasury management, and payment card issuance. The bank offers an OTC trading desk, instant settlement network, and institutional-grade digital asset management.

Pave Bank Offers A Unified Platform For All The Needs Of Clients

Pave Bank clients no longer have to shuffle between multiple providers for fiat banking, liquidity, and customer service. With its new services, clients can conduct their trading and investment activities under a single regulatory framework, interface, and compliance standard.

Businesses utilizing Pave Bank’s platform can easily manage both digital assets and fiat currencies in real time. This can help them to minimize their reliance on intermediaries and automate their trading operations. The platform offers ease of trading and operations to its users. With the additional funds to expand operations, Pave Bank says the goal is to improve its services and offer more digital asset services to its clients.

Pave Bank is not only meant for individual clients. The bank says it offers sophisticated tools and services for corporate clients looking to explore stablecoins in their operations. The platform will enable corporate clients to unify their fiat corporate treasuries and digital assets in a secure, regulatory-compliant manner.

Pave Bank Wants To Merge The Benefits Of Traditional And Digital Finance

The goal is to help clients to reduce costs, gain total control, and improve process speed, Pave Bank noted.

The company says it wants to expand its licensing coverage with the funding. It will also use the additional finance to collaborate with major digital assets and financial ecosystems, and expand its treasury and institutional financial products.

Dhanani says the company wants to work in line with the global financial system as it moves towards regulated on-chain finance. This means that institutions require a trusted medium between the old and new financial systems.

Pave Bank says it has designed a multi-task system that merges the speed and automation of digital assets with the prudential oversight and stability of traditional finance. It wants to continuously evolve and innovate as institutions redefine how money moves safely and quickly across the global financial systems.